The University of St. Thomas offers phased retirement for faculty, enabling participating individuals to plan effectively and transition into retirement by reducing workload and salary while retaining benefits, faculty rights and privileges during the transition. The phased retirement period is three calendar years (beginning Aug. 1 and ending the third consecutive July 31), but can be for a shorter amount of time with the provost’s approval.
During phased retirement the faculty member must maintain a workload equivalent to half-time (0.50 FTE) each year, with at least 50 percent of a full-time teaching load and related student advising. The remaining allocation of part-time workload to teaching, research and service will be negotiated with the applicable dean.
To be eligible to participate, faculty must meet the following criteria:
- Be age 55 or older;
- Have completed at least 10 years of continuous service with the university as a tenured, tenure-track or clinical faculty member; and
- Have a combined age and years of continuous service equal to or greater than 70 (for example, age 55 plus 15 years of continuous service).
Age and years of service will be calculated as of Aug. 1 of the year in which the faculty member intends to begin phased retirement.
Faculty interested in applying for phased retirement that begins Aug. 1, 2016, should complete and submit an application on or before Nov. 2, 2015. Applicants will be notified of their status no later than Feb. 1, 2016.