Retirement and Severance, Faculty Handbook, Oregon State University Faculty Handbook. Oregon State University. Enrollment occurs at the beginning of the month after completing six consecutive months of service.
All retirement plans receive funding from employee and employer contributions.
Currently all contributions to the plans are made by the University. Employees become vested and eligible to receive retirement benefits after they have made contributions in five calendar years or at age 50. Unused Vacation Leave. Unless included in the last year of employment's pay, vacation leave is not used in calculating retirement benefits. Relinquishment of Tenure Oregon State University has a program that allows faculty members to agree to relinquish their tenured appointment.