Retirement defined

Below is the definition of “retirement” as outlined by the North Carolina General Assembly:

“Retirement means the termination of employment and complete separation from active service with no intent or agreement, express or implied, to return to service. A retirement allowance under the provisions of this chapter may only be granted upon retirement of a member. In order for a member’s retirement benefit to become effective in any month, the member must render no service, including part-time, temporary, substitute, or contractor service, at any time during the six months* immediately following the effective date of retirement.”

* The six-month break mentioned above is applicable only to those in the TSERS retirement plan only. The six-month break also does not apply to those in the phased retirement program.

For Teachers’ and State Employees’ Retirement System (TSERS)

For members of the Teachers and State Employees Retirement System (TSERS), in order for a member’s retirement to become effective in any month, the member must render no service, including part-time, temporary, substitute, or contractor service, at any time during the six months immediately following the effective date of retirement.

This policy does not apply to participants in the University of North Carolina Phased Retirement Program.

UNC Retirement Plan Options

TSERS and ORP

The UNC System employees offers a choice of two retirement plans:

• Teachers’ and State Employees’ Retirement System (TSERS) | A State-managed plan that pools your contributions with the contributions of others into investments that enable a monthly State retirement income.
• Optional Retirement Program (ORP) | A private investment plan in which your retirement contributions are directed to a private investment firm whose advisors work with you to manage the State’s contributions in your best interest.

Within the first 30 days of your initial employment with the University, you must choose one of the above retirement plan options. Once selected, this choice cannot be changed.

For more information about:

• Choosing between TSERS and the ORP, see the About TSERS & ORP webpage and the UNC System Mandatory Retirement website.
• Teachers’ and State Employees’ Retirement System (TSERS)
• Optional Retirement Program (ORP)

Phased Retirement

The UNC Phased Retirement Program provides eligible, full-time tenured faculty members a way to transition to retirement through half-time (or equivalent) service. Eligible faculty members include those who meet certain age criteria and who are also eligible for retirement under TSERS or the ORP.

See the Phased Retirement webpage for more details.

Benefits Coverage in Retirement

Health benefits coverage is available to University retirees, and generally that coverage begins without a break if your retirement date immediately follows your last date of active employment. Eligibility for certain coverage depends upon your first date of hire with the University. To discuss your options and to ensure no gap in coverage as you retire, be sure to meet with the UNC Benefits Office well in advance of your retirement date.

For more information on coverage eligibility and timing, see the Benefits in Retirement webpage.

Emeritus Status

Members of the voting faculty—whether tenured, clinical, research or term—who take retirement and are no longer performing compensated services for the University, may continue to use the professorial titles and distinctions that they held immediately prior to retirement with the courtesy designation of “emeritus.”

Once the retirement is processed, the UNC Benefits Office will automatically update the campus directory to “emeritus” status, which will allow continued access to UNC email. Faculty who continue active research with external support may choose to delay their request for this automatic designation.

UNC retirees are also automatically added to the online UNC Directory as a retiree status:

• Retired faculty with emeritus status are listed as “Emeritus, UNC-Chapel Hill.”
• Non-emeriti faculty are designated as “Retiree UNC-Chapel Hill” with a reference to the previous home department.

UNC’s directory listings have now been standardized as indicated above; directory listings cannot be customized further.

To have the title “emeritus” updated to “emerita” or to delay the “emeritus” designation: Please email the UNC Benefits Office at benefits@unc.edu with your name, PID and request.

Emeritus faculty may request University business cards to be printed to reflect their Emeritus title and current contact information. Such requests should be directed to the administrative office of the department in which they were last appointed. Departments are encouraged to satisfy such requests, but ultimately this is at each Chair’s discretion and subject to budget availability within the department.

For other continued amenities (like office space, laboratory facilities, library carrels and parking) as may relate to emeriti faculty, contact your appropriate department chair or dean.

Post-Retirement Perks & Access

The privileges extended to faculty retirees are provided in the Faculty Handbook. For additional continued amenities (like office space, laboratory facilities, library carrels, parking, etc.) as may relate to retired/emeriti faculty, contact your appropriate department chair or dean.