SECTION 23 Retirement

SECTION 23: RETIREMENT

23.1     There is no mandatory retirement age for faculty members.

23.2     Eligible faculty must begin contributory participation in the WWU Retirement Plan (WWURP) no later than the beginning of the third year of eligible service unless the faculty member has previously established membership in a plan sponsored by the Department of Retirement System (DRS) and makes an irrevocable election to participate in the DRS plan instead. For purposes of determining eligibility, spring quarter and the following fall quarter are considered consecutive quarters. Required contribution rates are outlined in the retirement plan documents and are currently five percent (5%) until age 35, and seven and one-half percent (7.5%) until age 50, and ten percent (10%) after age 50.

23.3     The University contributes an amount equal to the faculty member’s required contributions. All contributions are invested according to the faculty member’s direction with the approved fund sponsors and funds.

23.4     A faculty member contemplating retirement should attempt to provide six months of advance notice of the anticipated retirement date.

23.5     Faculty who retire early, as defined in the retirement plan, for any reason, including health and/or disability, may have their benefits reduced according to the provisions of law or the retirement plan.

23.6     The WWU Faculty Retirement Plan (WWURP) is contained in the Benefits section of the Human Resources web site. Except for changes required by law, regulations, or court decisions, the Union will be given notice of proposed changes in the level of benefits and the opportunity to bargain over those changes.