Attachment for 2-2410 - Procedures for Waiver Under the Age Discrimination in Employment Act of 1967 (ADEA) and the Older Workers Benefit Protection Act (OWBPA)

Attachment for 2-2410 - Procedures for Waiver Under the Age Discrimination in Employment Act of 1967 (ADEA) and the Older Workers Benefit Protection Act (OWBPA)

 

Faculty who have initiated discussions with the department chair regarding the possibility of Phased Retirement must be:

 

  1. Provided a copy of HOP 2-2410 and its attachments by the department chair;

     

  2. Advised in writing by the department chairman that entering into a contract for Phased Retirement includes voluntarily waiving any rights, claims, or causes of action that he (she) may have had through the effective date of the contract under the Age Discrimination in Employment Act of 1967 (ADEA) and its 1990 amendments effected by the Older Workers Benefits Protection Act (OWBPA);

     

  3. Provided a copy of the Phased Retirement contract for consideration at least twenty one (21) days before signing;

     

  4. Advised in writing by the department chair to consult with an attorney before signing the Phased Retirement contract; and

     

  5. Advised in writing by the department chair that he (she) has a period of seven (7) days after execution of the contract during which he (she) may revoke the contract; absent such revocation, the contract shall go into effect on the eighth (8th) day following its execution by the parties.