Early Retirement is governed by North Dakota State Board of Higher Education Policy 703.1, and applies to tenured faculty and officers of the institution who are responsible for a major unit and report directly to a president or vice president, and who are members of TIAA/CREF, TFFR, or TIRF.
Early retirement is not an entitlement, and may be used only when the institution has documented benefits resulting from the agreement.
VCSU Eligibility – Any tenured faculty member, vice president or eligible officer of the institution who has served at least five (5) years at Valley City State University shall be eligible for early retirement, providing they meet the Board policy sum of 70 provision (the sum of the age of the employee plus the total years of employment at VCSU)—SBHE 703.1, 3, b, ii—and should demonstrate anticipated savings/benefits to the University in the first year.
VCSU Compensation. Two options for early retirement are available at VCSU:
Sponsored by: Faculty Senate
Reviewed: March 2003
Revised: April 2014