RSVP Phase-Out Matrix

The phased retirement options are available to faculty and staff and require supervisor approval, while the full monetary option is at the employee's discretion. Employees must meet the eligibility requirements in order to participate in either the monetary or phased options. For all options below, the percentage of payout at retirement is based on the employee's date of retirement, which cannot be any later than June 30, 2025.

Fiscal Year Current RSVP Options Effect of Changes
2022

50% Payout Full Monetary No Changes
1/3 of 50% Payout 2-Year Phased Retirement (work 50% for 2 years and receive 1/3 of applicable monetary percentage at retirement) No Changes
2/3 of 50% Payout 1-Year Phased Retirement (work 50% for 1 year and receive 2/3 of applicable monetary percentage at retirement) No Changes
0% Payout 3-Year Phased Retirement (work 50% for 3 years with a 0% payout at retirement) 0% Payout - Must start 3-Year option by July 1, 2022
2023





Full Monetary 30% Payout
2-Year Phased Retirement (work 50% for 2 years and receive 1/3 of applicable monetary percentage at retirement) 1/3 Payout - Must start 2-Year option by July 1, 2023
1-Year Phased Retirement (work 50% for 1 year and receive 2/3 of applicable monetary percentage at retirement) 2/3 Payout - Must start 1-Year option by July 1, 2024
2024


Full Monetary 20% Payout
1-Year Phased Retirement (work 50% for 1 year and receive 2/3 of applicable monetary percentage at retirement) 2/3 Payout - Must start 1-Year option by July 1, 2024
2025   Full Monetary 15% Payout