|Sick Leave Payout||CSU Benefit Plans||Ending Transitional
Transitional Appointments are negotiated directly with your department as per section E.2.6 of the Academic Faculty and Administrative Professional Manual.
If you are a participant in the University’s Defined Contribution Plan (DCP):
- You must continue participation in the DCP during your Transitional Appointment.
- You may elect to receive a distribution from your DCP account(s) once you commence your Transitional Appointment however the withdrawal may be subject to a 10% Federal Income Tax penalty as an “early withdrawal” from a qualified tax deferred pension plan if you have not reached the age of 59 ½. You are advised to consult your tax advisor for guidance.
- If you are also a PERA annuitant, the employer contribution to your DCP will be reduced by any amount CSU is required to contribute to PERA during your Transitional Appointment.
If you are a participant in the Colorado Public Employees Retirement Association (PERA):
- You must commence your retirement benefits with PERA at the time you accept your Transitional Appointment.
- You cannot work the 1st business day of the month in which your retirement is effective.
- Any work performed during the month of your effective date of retirement may result in a reduction of your PERA benefits for that month.
Prior to commencing your Transitional Appointment, you will be paid for ¼ of the first 60 days of your unused sick leave up to a maximum of 15 days, in accordance with the University’s retirement policy on sick leave payout. Any remaining sick leave in excess of your payout (up to 60 days) will remain available for your use during your Transitional Appointment. No further payout will be made at the end of your Transitional Appointment.
Faculty on 12-month appointments will be paid up to 24 days of accrued unused annual leave prior to commencing the Transitional Appointment. Except in the case of disability, payment for leave taken immediately prior to retirement or in conjunction with such retirement shall be subject to the 24 day maximum payment. If eligible, you will continue to earn annual leave during your Transitional Appointment but no further payout will be made at the end of the Transitional Appointment.
You remain eligible for all benefits available to you prior to commencing your Transitional Appointment and the CSU support for these benefits remains unchanged during this time.
Contact the Benefits Office to schedule an appointment 60 to 90 calendar days prior to the end of your transitional appointment.