The phased retirement options are available to faculty and staff and require supervisor approval, while the full monetary option is at the employee's discretion. Employees must meet the eligibility requirements in order to participate in either the monetary or phased options. For all options below, the percentage of payout at retirement is based on the employee's date of retirement, which cannot be any later than June 30, 2025.
| Fiscal Year | Current | RSVP Options | Effect of Changes |
| 2022 |
50% Payout | Full Monetary | No Changes |
| 1/3 of 50% Payout | 2-Year Phased Retirement (work 50% for 2 years and receive 1/3 of applicable monetary percentage at retirement) | No Changes | |
| 2/3 of 50% Payout | 1-Year Phased Retirement (work 50% for 1 year and receive 2/3 of applicable monetary percentage at retirement) | No Changes | |
| 0% Payout | 3-Year Phased Retirement (work 50% for 3 years with a 0% payout at retirement) | 0% Payout - Must start 3-Year option by July 1, 2022 | |
| 2023 |
Full Monetary | 30% Payout | |
| 2-Year Phased Retirement (work 50% for 2 years and receive 1/3 of applicable monetary percentage at retirement) | 1/3 Payout - Must start 2-Year option by July 1, 2023 | ||
| 1-Year Phased Retirement (work 50% for 1 year and receive 2/3 of applicable monetary percentage at retirement) | 2/3 Payout - Must start 1-Year option by July 1, 2024 | ||
| 2024 |
Full Monetary | 20% Payout | |
| 1-Year Phased Retirement (work 50% for 1 year and receive 2/3 of applicable monetary percentage at retirement) | 2/3 Payout - Must start 1-Year option by July 1, 2024 | ||
| 2025 | Full Monetary | 15% Payout |