Leave Payout / Transfer
…mpletion. Phased Retirement There is no payout or transfer of vacation leave, bonus leave or sick leave for faculty members entering the Phased Retirement Program. Faculty members forfeit remaining leave balances when entering phased retirement. However, once phased retirement begins, faculty members will earn pro-rata leave based on their half-time appointment status, and leave accrual will start anew. Faculty members may negotiate the use of…