HR-33 State Board Retirement Plan

Purpose
To establish a policy defining “retirement” for members of the State Board Retirement Plan (TIAA) at Green River College.

Scope 
This policy applies to all employees who are participants of the State Board Retirement Plan at Green River College and who are eligible to retire.

Definitions
Retirement: A complete separation from Green River College.

Separation: A break in service (including working as a volunteer) of at least one calendar month, cash-out of compensable sick leave to VEBA, loss of benefit eligibility and a meaningful change in employment status, including the loss (if any) of seniority or hiring preferences.

Phased Retirement: Depending upon the circumstances specific to the retiree, a separation of six (6) months may be required unless the retiree is eligible to participate in the “Phased Retirement” Program. Participation in phased retirement is not a guarantee and occurs only through mutual agreement
between Green River College and the employee through signing of a “Phased Retirement Program Agreement.”

Compensable Sick Leave: Accrued sick leave eligible for cash payout upon separation from the College.

Reapply: Completing a college employment application for the position in which they are interested.

Policy 
Employees who “retire” from the State Board Retirement Plan (TIAA) at Green River College must reapply if interested in any future positions with the College. Hiring departments will follow the appropriate procedure for the employment group of which they are seeking applicants.

Procedure 
The retiring State Board Retirement Plan participant will:

1. Notify the Office of Human Resources (HR) and immediate supervisor of his/her intent to retire by completing a Green River College Termination Form and Exit form.
2. Make an appointment with HR to discuss retiree exit items such as health care, VEBA and other college benefits, and the Payroll Manager to discuss payroll closeout items.
3. Retiring employees will be required to turn in all Green River property to the appropriate college personnel (as identified on the Green River exit form), including key cards, keys, tools, and electronic equipment prior to their last day of work (as identified on the Termination form). Information Technology will ensure that all technology access is disabled in a timely manner. Desks and workspace areas are to be cleared of any personal property and vacated by the last day of work.

Specific Authority 
RCW 28B.400-480
WAC 131-16

Law Implemented

History of Policy or Procedure

Draft: July 26, 2011
Adopted: July 26, 2011
Revised: December 9, 2015; June 1, 2017
Reviewed by: President’s Staff
Contact: Sheryl Gordon, Benefits Manager, ext. 2604
President’s Staff Sponsor: Marshall Sampson, Vice President of Human Resources & Legal Affairs, ext. 3315