Definition of Retirement
Faculty & Admin Professional, State Classified
To be considered a "retiree" an academic faculty member, administrative professional or state classified employee who is a participant in the Defined Contribution Plan for Retirement (DCP) or who is a participant in the Colorado Public Employees Retirement Association (PERA) appointed or reappointed on or after July 1, 2005 must be:
- Age 55 or greater with at least 20 years of "service" or
- Age 60 or greater with at least 5 years of "service"
"Service" for this purpose includes periods of employment with Colorado State University during which the person
- Received, or was eligible to receive, the University's contribution to the DCP or to PERA
- Had an appointment of at least half‐time
- Received, or was eligible to receive, the University's contribution toward benefits, for example health insurance (BenPay, Cost share or State classified insurance match).
Periods of "service" need not be continuous but there must be a minimum of five consecutive years of "service" immediately preceding the date of "retirement". Periods of paid or un‐paid leaves of up to 1 year in duration during which the person received, or was eligible to receive, the University’s contribution toward benefits shall be counted as "service".
PERA Participants Appointed Prior to June 2005
Academic faculty, administrative professional or state classified employees who are participants in PERA and who were appointed on or before June 30, 2005, or reappointed only on or before that date, who are eligible for "retirement" (full or reduced) under the PERA provisions at the time of separation and who have at least five consecutive years of service at Colorado State University in a half‐time or greater, benefit eligible appointment immediately prior to the date of separation are considered "retirees".