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For Use By Halftime FAC/StaffAgreement for Salary Reduction Under Section 403(b) For Use By Halftime Faculty and Staff BY THIS AGREEMENT, made between (the Employee) and Elon University (the University),
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How to fill out phased retirement agreement

01
Review the terms and conditions of the phased retirement agreement provided by your employer.
02
Understand the eligibility criteria for participating in the phased retirement program.
03
Discuss your interest in phased retirement with your employer and request a copy of the agreement.
04
Fill out the required sections of the agreement including your personal information, proposed work schedule, and retirement date.
05
Seek clarification on any terms or conditions that you do not understand before signing the agreement.
06
Submit the completed and signed agreement to the appropriate HR department or designated personnel.

Who needs phased retirement agreement?

01
Employees who are approaching retirement age but want to gradually reduce their work hours before fully retiring.
02
Employers who offer phased retirement programs as part of their benefits package.
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A phased retirement agreement is a formal arrangement that allows employees to gradually reduce their working hours while beginning to draw retirement benefits, typically designed to ease the transition into full retirement.
Employees who wish to participate in a phased retirement program and want to reduce their work hours while receiving retirement benefits are required to file a phased retirement agreement.
To fill out a phased retirement agreement, an employee should complete the required forms provided by their employer, detailing their intended reduction in hours, the duration of the phased retirement, and any other necessary personal and employment information.
The purpose of a phased retirement agreement is to facilitate a smooth transition for employees moving into retirement while allowing organizations to maintain experienced staff during the transition period.
The phased retirement agreement must include the employee's personal information, the proposed new work schedule, the start and end dates of the phased retirement, and any terms and conditions agreed upon between the employee and employer.
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