Two Documents on Faculty Retirement

(See the Associate Provost's message, here)


From the Handbook: Reduction in Duties

(Source: Provost's Memorandum January 23, 1991)

Members of the standing faculty and the research faculty may request a reduction in duties for a period not to exceed six years. Such a reduction is granted only for whole years and requires Trustee approval; it will be granted for good and sufficient reason such as serious illness or injury, child care, service to the community, or anticipation of a move to emeritus status. Such reductions may be for 10%, 20%, 30%, 40%, or 50% of full duties. Reduction in duties is always accompanied by a proportional reduction in salary and in those benefits, such as life insurance and retirement contributions, that are salary-based.

Reduction in duties for child care may be granted to a faculty member to allow him or her to devote a fraction of his or her time to the care of dependent children. For untenured members of the standing faculty on the tenure track, assistant professors on the clinician-educator track, and assistant professors on the research track, one year is removed from the appropriate probationary period for each two years granted with 50% reduced duties. For faculty with a normal seven-year (ten-year) probationary period, the total probationary period including time spent at reduced duties for child care cannot exceed ten years (thirteen years). Faculty members who wish to devote full time to child care should consider requesting personal leave as described under the heading "Other Leaves." (Handbook, p. 64)


Q & A On Faculty Early Retirement Income Allowance Program

(from a Human Resources Brochure, also at

The Faculty Early Retirement Income Allowance Program (FIAP) provides an opportunity for senior faculty members to retire from active service at the University, in some instances, before becoming eligible for full Social Security benefits.This program is available to senior faculty members who retire after June 30, 1996.

Q: What is the eligibility for participation in the FIAP program?

A: Tenured members of the Standing Faculty and senior members (Associate Professor or Professor) of the Standing Faculty-Clinician Educator who will be at least age 62 but not yet 69 and who have at least 15 years of full-time active service at the University. Tenured faculty members and senior clinician educators who have not completed 15 years of full-time service by the age of 69 may retire under this program after completion of 15 years of full-time service.


Q: How do I apply for early retirement?

A: Faculty members who wish to retire under the terms of this program must provide written notice to the dean one year prior to the date of their intended retirement. Normally such retirements will occur at the end of the academic semester. You may be permitted to retire at other times when approved by the chair and dean of the department. You may rescind your notice anytime before signing the formal agreement by notifying your dean and chair.


Q: What is the amount of the retirement income allowance?

A: The amount of the allowance is equal to 165% of the average academic base salary for full professors in your school during the school year preceding retirement. It is paid in 24 equal installments. Residual payments are made in a lump sum to your named beneficiary(ies) if you die during this period.


Q: What is my tax liability under FIAP?

A: The retirement allowance is considered a severance payment subject to federal, state and local income taxes and to Social Security and Medicare taxes. However, the Social Security Administration should not count the income allowance as earnings that would reduce Social Security retirement income payments.

Q: How will my present University benefits be affected?

A: Medical insurance coverage will be provided for you and your family with the same cost-sharing arrangement as for active faculty members until you reach Medicare eligibility age. After that time, supplementary coverage to Medicare is provided. The cost of this coverage will be shared by the University and the retired faculty member on the same basis as the cost of medical insurance for active employees.

Group term life insurance will be continued at the University's expense during the two years. The amount is based on your primary job and your age at retirement. You may not increase the amount but may reduce it to $50,000 to avoid imputed income taxes. At the end of the two years, the amount will be reduced to $2,000, the same as for current retirees. Conversion privileges will be the same as for the active faculty who retire over the age of 65. --more-->

  Dental insurance will be continued for you and your family during the two-year period. At the end of this period, you can continue this coverage for 18 months under COBRA at the prevailing cost at that time.

Dependent Tuition benefits are continued during retirement.


Q: Can I still participate in the Tax Deferred Annuity Accounts?

A: You may continue participation in the Supplemental Plans only of TIAA-CREF and Vanguard. University contributions will not continue when you begin the FIAP. You can start withdrawing your pension benefits from these accounts while receiving your FIAP benefits. You should consult your tax advisor before making withdrawal decisions.


Q: How do I estimate my Social Security Income benefit?

A: For an estimate of the benefit you could receive, you must contact your local Social Security Administration Office or call 1-800-772-1213. Documentation, including proofs of age, marriage and earnings, may be required.


Q: When do I enroll in Medicare?

A: Three months before retirement, you must contact your Social Security office to enroll in Medicare Part A and Part B, if you are over age 65. You will be required to pay the cost of Part B to the Social Security Administration.


Q: What if I retire before age 65?

A: Your medical coverage before age 65 will continue. At age 65, you will apply to Social Security for Medicare Part A and Part B and your benefits coverage will be transferred to the University's Medicare Supplemental Plan.


Q: When will I receive my Medicare supplement card?

A: Within 10-15 working days after retirement.


Q: What happens to my medical coverage if I am over age 65 but my spouse has not reached the age of 65?

A: Your coverage will be transferred to the Medicare Supplemental plan, but your spouse will remain on the active plan until he/she reaches the age of Medicare eligibility. Then, he/she must enroll in Medicare Parts A and B and will be added to your Medicare Supplemental plan. The cost of the Medicare supplement will be at the prevailing cost for all retirees under that plan.


Almanac, Vol. 46, No. 4, September 21, 1999