Policies, Union Contracts, Handbooks > Faculty & Academic Staff Handbooks > Health Programs Faculty Appointment System Handbook > 5.0 Benefit Structure for Health Programs Faculty Members

5.4 Faculty/Academic Staff Benefits and Retirement Programs

Health Programs Faculty become eligible for the University contribution to the Retirement Programs upon appointment to the Health Programs Faculty Appointment System. However, participation in the base retirement plan is initially optional, enrollment is mandatory at age 35 or 24 full-time equivalent service months, whichever is later. Participation in the supplemental retirement plan is optional at any time. For the purposes of clarifying the status of the Health Programs Faculty, it should be noted that they will, upon reaching the age and service months specified above, contribute 5% of their base salary and the University will contribute 10% of the faculty member's base salary to the retirement program. The University will only contribute retirement benefits on the Base component of a HP faculty member's salary, consistent with current practice. The University will not contribute retirement benefits on the HSRC or IDP component of the faculty member's salary.

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