Full-time TMCC Academic and Administrative faculty are eligible to receive an incentive payment for early notification of their pending retirement date to facilitate budget and personnel planning.
All full-time Academic and Administrative faculty meeting one of the following conditions:
- The employee must have attained the age of 65 and completed at least 5 years of service with TMCC at the date of retirement; or
- The employee must have attained the age of 60 and completed at least 10 years of service with TMCC at the date of retirement; or
- The employee would have completed 30 years or more of service with the institution at the date of retirement
$1,500 incentive will be paid to eligible individuals who submit their application for retirement early.
- The incentive will be added to the employee’s paycheck in the pay period following the date when the employee can rescind their original notification to the Human Resources office.
- The incentive is considered compensation and will be subject to all applicable taxes.
- For Academic faculty, eligible employees must submit their official application at least three months prior to the start of their final semester (excluding summer session).
- For the academic year, applications will be accepted until Nov. 1st, for retirements at the conclusion of the spring semester.
- For Administrative faculty, eligible employees must submit their official application at least six (6) months (not to exceed one (1) year) prior to their retirement date.
- Employees who fail to submit their application within these established guidelines will not be eligible for the incentive.
- Employees initiating a phase-in retirement plan are not eligible for this benefit.
Note: This program is subject to change without advance notification.