The normal retirement age for all members of the University staff shall be 62 years. Employees may retire at age 55 after 10 years of service with the University. An employee also may be retired prior to the normal or mandatory retirement age because of physical or mental disability that prevents such employee from satisfactorily performing work, such disability to be determined by resolution of the Board. (Board of Regents Bylaws 3.12.1)

Although the Board of Regents had a "health care policy for tenured early retirees" (BOR Policy 4.2.5), it was determined to be unallowable by a recent Eighth Circuit U.S. Court of Appeals decision. Eligible tenured faculty who are considering retiring should discuss retirement with their chair and dean/director.

Emeritus Status
Emeritus status is the rank given by the Chancellor to an employee at retirement in recognition of substantial service in teaching, research or administration upon recommendation of appropriate department chair and college dean. (Board of Regents Policy 4.2.6)
Emeritus Faculty Procedures

Senior Consultant Status
Members of the volunteer and part-time faculty may, based on the recommendations of his/her department chair and dean, be placed on Senior consultant status rather then the term "Emeritus". (Board of Regents Policy 4.2.7)