ACADEMIC POLICIES & PROCEDURES

Personnel Benefits

Retirement

Employer to Pay Elective Member O.T.R.S. Contributions

Rogers State University pays in the amount of 7% of total monthly compensation for Rogers State University faculty.

TIAA-CREF Retirement Annuity

For an eligible, full-time employee Rogers State University shall contribute to TIAA-CREF a premium of 4% of annual base salary. (Note: RSU employees receiving TIAA-CREF contributions from Rogers University prior to January 1, 1999, will remain on the same premium of 15% of base salary over nine thousand dollars ($9,000).)

Employees who meet the above eligibility requirements may also elect to participate in the Supplemental Retirement Annuity (SRA) Plan. Employees may defer (subject to RSU plan limits) a specified amount of their own pay in addition to the 4% paid by the University. The appropriate application must be completed in the Employment and Benefits Coordinator’s office and the SRA benefit is not retroactive to the first day of employment or eligibility.

Retirement Insurance Program

For a retiring employee who has been employed full-time in the Oklahoma State System of Higher Education for not less than ten (10) years immediately preceding the date of retirement, and has been a member of the Oklahoma Teachers’ Retirement System during that time, and has elected to receive a vested benefit under the provisions permitted by the O.T.R.S. laws, the university shall continue to pay the group health insurance premiums and the group life insurance premiums for the retiring employee through the month in which they become medicare eligible. The retiring employee shall have the option of continuing to pay group health insurance premiums for his or her dependents.

Emeritus Status

The Board of Regents of the University of Oklahoma at its discretion may honor recommendations of presidents granting retired faculty members emeritus status and title after retirement. When members of the faculty retire under honorable conditions, they may be entitled to emeritus status and to the use of their last title emeritus" (e.g., "President Emeritus," "Professor of History Emeritus," etc.). Retired faculty members emeritus status and title shall be wholly honorary and does not entitle them to compensation of any kind. Emeritus status shall apply only in cases where the faculty member has been in the service of the university under the jurisdiction of this Board for at least ten years.

Other university positions may be considered for emeritus status upon approval by the president.