Tenured Faculty Transition Policy
Effective Date: January 1, 2019
Issuing Authority: Provost
Responsible Officer: Senior Vice Provost for Faculty Affairs
The full policy, including information on minimum age and minimum years of service requirements, is available via DrexelOne under the Employee tab.
The Tenured Faculty Transition Policy provides options for eligible tenured faculty members to transition from their tenured positions to retirement with the University. This policy replaces past University policy and precedent with a new permanent framework.
The policy consists of two options for tenured faculty to consider, Tenure Buyout and Phased Retirement, highlights of which are described below. Eligible tenured faculty members may choose to participate in either option, but not both.
Eligible faculty members who choose to participate in the Tenure Buyout and satisfy all the necessary conditions will be entitled to a single-sum, cash payment. In exchange for relinquishing tenure, the faculty member will receive a payment in the following percentage amount of their regular, annual salary (not including supplemental pay) provided under the terms of your employment contract with the University that is in effect immediately prior to the Tenure Relinquishment Date:
- 65% At least 10 but less than 20 years of service
- 100% At least 20 but less than 30 years of service
- 110% 30 or more years of service
Eligible faculty members choosing to participate in Phased Retirement will elect to reduce their work schedule and the commensurate amount of pay for up to three consecutive academic years and relinquish tenure and retire at the end of the phased period. This can be accomplished in accordance with one of the following three Phased Retirement Periods:
- One-Year Phased Retirement Period: Choose 25% or 50% reduction in work and pay for one academic year.
- Two-Year Phased Retirement Period: Choose 25% or 50% reduction in work and pay for each of two consecutive, academic years or choose 25% reduction in work and pay for the first academic year and a 50% reduction in work and pay for the second, consecutive academic year.
- Three-Year Phased Retirement Period: 25% reduction in work and pay for the first academic year, 50% reduction in the second consecutive, academic year and 75% reduction in the third consecutive, academic year.
All percentages reflect a reduction when compared to a full-time load (teaching, research, and service).
Faculty members who meet the criteria as of the launch of the policy, or will become eligible between January 1, 2019 and August 31, 2019, will receive specialized instructions and should attend one of the information sessions offered in November and December 2018.
For questions regarding this policy, please contact the Office of Faculty Affairs at firstname.lastname@example.org or 215.895.2141.