Transition to Retirement Program

The faculty or staff member who elects to participate in the Transitioning to Retirement Program will enter into an agreement with the College to retire at a specific future date and to reduce the overall workload from the initial date of the agreement until the date of separation.

The effective date of separation will be specified in the Agreement ("Separation Date"). In no case shall the overall annual workload during the Transition Period be less than half the annual workload of a full-time staff or faculty member. For a faculty member, the percent of full-time shall be 58-75% during the Transition Period and the responsibilities will be specified in the Agreement between the faculty member and the Provost and Vice President for Educational Affairs.

During the Transition Period, a Participant may continue to participate in the College’s benefit plans for active employees.

No additional budget funds will be provided to the participant’s school or department to cover replacement costs during the Transition Period.

The College reserves the right to discontinue the Program, but will give one year's notice of such termination.

Please click the link below to view the Ithaca College Faculty and Staff Transitioning to Retirement Program Summary.

The faculty member who elects to participate in the Faculty Retirement Incentive Program will enter into an agreement with the College and the College will provide an incentive for committing to a future retirement date (“Retirement Date”) by December 31 two years before the faculty member plans to retire. The faculty member who elects to participate in this program will be paid 30% of the salary they received for their final full academic year of teaching while on a leave of absence in the final semester prior to the Retirement Date. 

Key points of the program: 

• The faculty member must teach for a full academic year at full-time workload immediately prior to their final semester of employment.  
• The faculty member shall be granted a paid leave of absence for the semester prior to the Retirement Date. 
• Sabbatic leaves granted prior to the Faculty Member’s election to participate in the Program shall be honored as long as they are scheduled prior to the last full academic year of work. 
• The specific terms of the agreement will be arranged between the faculty member, their Dean, and the Provost and Senior Vice President for Academic Affairs. Any proposed agreements shall be reviewed by and are subject to approval by the Provost and Senior Vice President for Academic Affairs. 
• Faculty members will receive normally applicable benefits per College policy for the remainder of their employment with the College and upon their retirement from employment with the College. 
• To elect to participate in the Program, an eligible faculty member must sign a Faculty Retirement Incentive Agreement and Release, available through their Dean’s Office.  
• Faculty members electing to participate in this program are not eligible to participate in any other incentive retirement program. 

The College reserves the right to discontinue the Program, but will give one year's notice of such termination.

Please click the link below to view the Ithaca College Faculty Retirement Program Incentive Summary.