Faculty Retirement Options

H&S Faculty have a choice of retirement options, as described below.

Phased-In Retirement Option I:

A faculty member officially retires and then is called back to duty as an emeritus professor at the 50% FTE level for up to three years.

IMPORTANT: Faculty who are considering this option are advised to consult with personal financial advisors and the Benefits Office regarding consequences of taking distributions from retirement accounts under the terms of this option.

The following chart describes the Phased-In Retirement Option I.

RETIRING FACULTY MEMBER ISSUES

Phased-In Appointment Official retirement followed by emeritus recall consistent with University policy
Phased-In Terms Up to 3 years in length and up to 50% salary
University FRIP Payment Calculation based on appointment percentage for final year of regular faculty appointment. Payment will be made on the official retirement date.
Phased-In Salary Raises 3.0% per year
Research Funds $5,000 per year
Voting Rights None
Office Space At the discretion of the Chair
Lab Space At the discretion of the Chair


SCHOOL & DEPARTMENT ISSUES

H&S Budgeting Issues The School will provide the $5,000 research funds and will provide replacement teaching funds to the Department in the usual process.
Replacement Search Authorization The department can search no earlier than during the last year of the exiting faculty member's phased-in recall appointment.
Academic/Program Issues Plans must be consistent with the needs and priorities of the academic program, the department and the School.

 

Phased-In Retirement Option II:

Another option is for a faculty member to reduce his/her on-duty time to 50% FTE (by taking a 50% leave without pay or reducing the FTE) for up to three years and then officially retire.

Regular Retirement Option:

Faculty members who do not wish to participate in either phased-in retirement program can follow the normal University retirement guidelines and receive the standard benefits under University policy.

Retirement Procedures:

The Faculty Checklist for Retirement provides a detailed list of steps to follow to ensure that the necessary planning on the part of the faculty member, the department and H&S has taken place. 

In addition, in H&S, under any of the options, the following steps should be taken:

Faculty Member:
* Discuss retirement date and, if desired, recall options with department chair.
* Complete Recall to Duty form.
* Complete Notice of Intent to Retire and Application to Participate in the FRIP.
* Send both forms to the department chair.

Department Chair:
* Sign Notice of Intent to Retire and the Recall to Duty form and forward both to the Senior Associate Dean.

Senior Associate Dean:
* Sign Notice of Intent to Retire and Recall to Duty form.
* Sign letter of agreement to faculty member, outlining recall agreement (if appropriate) and other benefits specific to H&S.
* Obtain faculty member’s agreement to conditions stated in letter of agreement.
* Forward letter of agreement and Notice of Intent to Retire  to Provost’s Office

If you have questions about any of the options, please contact Tina Kass, at (650) 726-7603 or tkass@stanford.edu. For questions about Faculty Retirement Incentive Program (FRIP), please contact Emily Chow in the Provost's Office.