Iowa regents seek to shorten phased retirement plans - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa regents seek to shorten phased retirement plans

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(AP) -

Faculty and other long-term employees at Iowa's three public universities won't have as long to phase out their retirement under a new proposal before the Iowa Board of Regents.

The Press-Citizen reports (http://icp-c.com/2rn9Fpr ) that older employees who have worked at least 15 years in the system are currently allowed to phase out their retirement over five years. The regents are looking to shorten that to two years.

A first reading of the proposed policy is expected June 8 at a Cedar Falls meeting.

Faculty leaders have questioned whether cutting the phased retirement by three years provides enough incentive to employees.

Under the new two-year policy, employees could work no more than 65 percent of full employment during the first year and no more than 50 percent for the second year.

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