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 CONSIDERATIONS

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 Retirement Salary Raises 3.0% per year (3 years)
Research Funds $5,000 per year
Voting Rights None
Office/Lab Space At the discretion of the Chair; see below


SCHOOL & DEPARTMENT CONSIDERATIONS

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.
Office/Lab Space See below

 

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. Faculty selecting this option should consult with the Benefits Office, given the reduction in FTE percentage.

Normal 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.

Emeritus Office and Laboratory Space:

H&S's policy on emeritus faculty office space establishes expectations based on the faculty member's status as a "recalled" member of the faculty:

•  Emeritus faculty participating in the H&S Phased-In Retirement Program: During the three-year period of recall, emeritus faculty are generally assigned a private office and/or laboratory space as appropriate and as space is available.
•  Emeritus faculty recalled under other programs and/or terms: Recalled faculty outside of the H&S Phased-In Retirement Program are generally assigned a shared office space. Depending on availability of appropriate space, accommodations may range from double occupancy offices to a shared workstation environment designed to support a community of emeritus faculty in the same or related disciplines. Private office space will only rarely be assigned.
•  Emeritus faculty not on recall: Provided space is available, departments may assign non-recalled faculty to a shared office or offer access to an appropriate shared workstation environment. Once again, private office space will only rarely be assigned.

Upon making the decision to retire, faculty should discuss a space plan with their department chair based on the expectations described above. This plan should be confirmed in writing by the chair at the time of retirement. Whenever emeritus faculty on recall complete their recall service - whether as part of the Phased-In Retirement Program or not - the space plan should be updated to reflect the change in status. In order to maintain necessary flexibility, such plans are also subject to modification based on other changes in circumstance (including departmental needs, at the discretion of the department chair).  For more information about this policy, please contact Tina Kass at (650) 726-7603 or tkass@stanford.edu.

Additional info: Memo on Emeritus Office and Laboratory Space (pdf)

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.