The University is launching a New Voluntary Faculty Retirement Program (VFRP). The VFRP offers eligible faculty two options to retire, an immediate option, which enables faculty to retire now, and a half-time option, where faculty may work half-time at half-pay for up to three years.
Between June 1, 2012 and May 31, 2013, eligible faculty who wish to participate and who execute an agreement with the University by May 31, 2013, will receive a one-time payment equal to one year of their base salary, up to $100,000. In addition, faculty who elect the half-time option will be eligible for certain benefits. For VFRP benefit information, click here.
Faculty who choose to do so can combine the options above.
This program is open to tenured faculty members who are at least 62 years of age and who have been with the University for a minimum of 10 years. Participation in the VFRP is completely voluntary. For more information, click here.