Faculty Early Retirement Program (FERP)

Faculty Early Retirement Program (FERP) provides eligible tenured faculty unit employees the opportunity to retire and continue to work for a maximum of five (5) years at 50% of their regular time base (based upon the year immediately prior to retirement). Employment shall be at the same rank and salary (step) level in the academic or fiscal year immediately prior to retirement. FERP faculty are permitted to establish a “period of employment” in either the Fall or Spring semester, or 50% throughout the academic year. Appointments will commence at the beginning of the academic year.

Examples

• Yes
• No

Yes indicates that a faculty member is eligible for FERP, No FERP indicates that a faculty member is not eligible for FERP.

Where Data Element Appears

ASIR Public Faculty Data Dashboards and Reports:

• Faculty Data Dashboards
• Faculty Workload Reports

See Also

• Faculty

Definition Source

"FERP provides eligible tenured faculty unit employees the opportunity to retire and continue to work for a maximum of five (5) years at 50% of their regular time base (based upon the year immediately prior to retirement). Employment shall be at the same rank and salary (step) level in the academic or fiscal year immediately prior to retirement. FERP faculty are permitted to establish a “period of employment” in either the Fall or Spring semester, or 50% throughout the academic year. Appointments will commence at the beginning of the academic year."