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Full-Time Equivalent (FTE) Service Months

VII. FACULTY AND ACADEMIC STAFF RETIREMENT AND BENEFIT PROGRAMS (Cont.)

FULL-TIME EQUIVALENT (FTE) SERVICE MONTHS

This concept is defined as the cumulative full-time equivalent (FTE) months of service for University employment of 50% or greater. FTE service months are used in determining eligibility for University benefits which require a service waiting period.

Faculty/academic staff meeting the minimum retirement requirements* will remain eligible to maintain health, prescription drug and dental coverage and receive the employer’s contribution based on the following.

If a faculty/academic staff member retires with 15 or more years of service and is at least age 62, the following FTE service month ranges will determine their health, prescription drug and dental contribution during retirement.

1/2 Contribution	3/4 Contribution	Full Contribution
90.00-116.99	117.00-161.99	162.00-999.99

If a faculty/academic staff member retires with 25 or more years of service at any age, the following FTE service month ranges will determine their health, prescription drug and dental contribution during retirement.

1/2 Contribution	3/4 Contribution	Full Contribution
150.00-194.99	195.00-269.99	270.00-999.99

*Minimum retirement requirements are 15 or more years of service and at least age 62 or 25 years of service at any age.

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