University offers limited, one-time retirement incentive for eligible tenured faculty
Northwestern will be extending a voluntary retirement offer to qualifying faculty members. This is part of a one-time program that will provide a substantial incentive to long-serving tenured faculty members who are interested in transitioning to retirement.
Subject to limited exceptions, the program, called the Faculty Retirement Incentive Program, will be available for tenured faculty members who are 68 years old or older as of Dec. 31, 2020, have been at Northwestern for at least 10 years and are in good standing.
As retirees, program participants will be eligible for the University’s retirement benefits. Participants also will be eligible to apply for emeritus status, subject to the normal process and qualifications for conferral of emeritus status.
Participation in the program is completely voluntary. Eligible faculty members will be notified via email Dec. 10 and will have a fixed window of Jan. 8 through Feb. 28, 2021 to apply.
In addition to this one-time limited program, individual schools may continue to enter into individual phased retirement arrangements, when appropriate. Faculty members who are interested in phased retirement should consult with their Dean’s office. Information sessions about the program will be held for eligible faculty in the coming weeks.
“We are so appreciative of the impactful work of these faculty, who have served the University and our students for many years,” Provost Kathleen Hagerty said. “This program demonstrates our gratitude for their immense contributions and provides a smooth transition for those who choose to pursue it so that we may build on their legacy of scholarship and achievement in future years.”