The phased retirement benefit negotiated by the PSC and management allows full-time instructional staff members to ease into retirement. Full-time faculty who are 65 and older, have at least 15 years of pensionable service and are members of the Optional Retirement Program (largely TIAA) are eligible to apply to “phase” for up to three years, work 50% of their workload and receive 50% of their salary and full health insurance. HEOs and CLTs are eligible to phase for up to one year with a 20% workload reduction (one day per week) for 80% pay, if they are at least 65 and Members of the ORP. Faculty and staff must irrevocably commit to retiring at the end of the phasing period. To begin phased retirement in Fall 2018, applicants must develop a plan with their chair/supervisor and submit an application to their college human resources office by November 15, 2017. The application form is available in the Retirement Benefits section of the CUNY website and on college websites. Read more.