We know that you have questions about retirement, and it is our goal to provide clarity. Below, you’ll find some commonly asked questions about NYU faculty retirement policies, along with answers to them.

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Frequently Asked Questions

Tenured Faculty Special Retirement Program

The Tenured Faculty Special Retirement Program is a direct response to the financial challenges caused by the COVID-19 pandemic. The voluntary program provides, for a limited time, full-time tenured faculty members with the opportunity to retire from active service at NYU and receive a full year’s salary as a Retirement Supplemental Payment. The Program’s design helps faculty members plan for retirement by offering a predictable retirement option that is not subject to individual negotiation. Below are questions and answers that are designed to provide general information about the Program. Read a full description of the program (PDF).

Who is eligible for the Tenured Faculty Special Retirement Program?

The Tenured Faculty Special Retirement Program applies to all eligible tenured faculty in all schools, centers, and institutes at NYU’s campus in New York City except the NYU Grossman School of Medicine and the Long Island School of Medicine. The Program does not apply to faculty at NYU Abu Dhabi or NYU Shanghai. The University reserves the right to approve or deny any faculty member’s participation in the Tenured Faculty Special Retirement Program.

Eligible faculty members are full-time tenured faculty of any rank who meet these requirements: 

(i) Their age plus years of continuous, full-time service equals or exceeds 80 on their retirement date,

(ii) Their years of continuous, full-time service equal or exceed 10 on their retirement date, and

(iii) They are at least 65 years old on their retirement date.

What are the financial benefits of participating in the Tenured Faculty Special Retirement Program?

The Program is voluntary. It includes all the standard retirement benefits. Additionally, an eligible faculty member who elects to retire under the Program will receive a Retirement Supplemental Payment that is equal to their annual base salary (subject to taxation) upon retirement. The payment will be calculated on the faculty member’s base salary as of August 31, 2020 and will be made around January 2021.

How much tax will be withheld from the Retirement Supplemental Payment?

The Retirement Supplemental Payment will be paid in January 2021 in a check that is separate from the final paycheck. While each individual person's withholding situation is unique to them, in general, the combined Federal, NY State, NYC, Social Security and Medicare taxes withheld for a NYC resident would be approximately 44.4% under current law. The tax rates are subject to change as of January 1. The Retirement Supplemental Payment will be categorized as wages when reported on the faculty member’s Form W-2 for Calendar Year 2021. Please consult your tax advisor for further information.

Where can I get assistance with financial planning for retirement?

Answer: To schedule a telephone meeting with a TIAA Financial Consultant who can discuss retirement planning and review your income estimates and options, click Schedule an appointment or contact Clara Castellana by phone at 212-913-1447 or email at ccastellana@tiaa.org.

When do I enroll in the Program and when would I retire?

  • Faculty member signs the election form between June 15 and August 3, 2020
  • Faculty member signs retirement agreement by October 5, 2020
  • Faculty member retires December 31, 2020*

*Law School faculty whose grading of papers cannot be completed before January 1, 2021 will have a retirement date of January 31, 2021.

What if I change my mind after I elect to participate in the Program?

You can change your mind after you sign the election form. You may rescind your retirement decision at any time prior to signing the formal retirement agreement or within seven days thereafter. It is not possible to change your mind about retirement after that time.

I am supposed to go on sabbatical in Academic Year 2020-21. May I still apply for the Program and retire immediately after my sabbatical?

Yes. If you are scheduled for a sabbatical during Academic Year 2020-21 and wish to participate in the Program, your sabbatical can be moved to fall 2020. Depending on the number of earned sabbatical years, you will receive 100 percent or 75 percent pay for your sabbatical for the fall semester. You will then retire on December 31, 2020.

I have earned a sabbatical but not yet requested one. May I take a sabbatical and still participate in the Program?

Yes. A faculty member participating in the Tenured Faculty Special Retirement Program who is eligible for earned sabbatical leave may take no more than one semester of leave (maximum) prior to retiring, in fall 2020. Depending on the number of earned sabbatical years, you will receive either 100 percent or 75 percent of your August 31, 2020 base salary during the sabbatical.

Am I still entitled to the normal NYU retirement benefits if I participate in the Tenured Faculty Special Retirement Program?

Yes. Program participants will also receive the NYU retirement benefits generally available to faculty.

How do I enroll in the Program?

To participate in the Program, an election form must be completed and electronically submitted by August 3, 2020.  When you click “Submit” on the form, a PDF copy will be automatically sent to your school representative and will also be available for you to print or save.

After submitting your election form, a formal retirement agreement will be prepared and transmitted to you via your school representative. You will have no less than 45 days to consider the agreement, but you must return the signed agreement to your school representative no later than October 5, 2020. You may submit the election form and enter into the formal retirement agreement prior to satisfying the eligibility requirements as long as you will be eligible to participate in the Program on your retirement date.

I already signed a retirement agreement, but now I would like to change my mind or participate in the Tenured Faculty Special Retirement Program instead. Is it possible to change a retirement agreement that has already been signed?

You may rescind your retirement decision at any time prior to signing a retirement agreement or within seven days thereafter. Once you have entered into a retirement agreement and the revocation period of the agreement expires, you may not rescind the agreement.

I currently live in NYU housing. What are my options for University Housing after I retire if I choose to enroll in the Program?

A faculty member residing in University Housing who elects to retire under this program is eligible to remain in their current apartment in University Housing until June 30, 2022 at which time they will be required to permanently vacate, unless the apartment is a studio and the faculty member meets the eligibility requirements for post-retirement residence in a studio apartment as specified in the lease.  A faculty member residing in University Housing who elects to retire under this program and wishes to move to a studio apartment, subject to availability, may indicate their request on the Tenured Faculty Special Retirement Program enrollment form.  Priority for studio apartments will be determined on a first come, first served basis based upon the date the faculty member submits the enrollment form.  An offer of a studio apartment with a specific move-in date will be forfeited if not accepted within 14 days of the offer but if an offer is accepted, the faculty member will be required to relocate into the studio within thirty (30) days of accepting the offer.  If a faculty member requests to relocate to a studio apartment and none becomes available prior to June 30, 2022, the faculty member will be required to permanently vacate University Housing by such date.

Learn more at NYU Faculty Housing Principles and Priorities.

Additional information on housing relocation.

Who do I contact if I have additional questions about the Tenured Faculty Special Retirement Program?

For general questions about faculty retirement or about the Tenured Faculty Special Retirement Program, please contact Stacey Gordon, Program Director for Retirement in the Work Life office.

To discuss retirement options with someone at your school, contact your school representative.

For questions on your individual retirement benefits, contact PeopleLink.

General Information

Who is eligible for retirement with benefits?

Faculty are eligible for retiree medical and life insurance benefits from NYU if they meet the rule of 70. To meet the rule of 70, you must be at least 55 years old on your retirement date, have completed at least 10 years of full-time active service at NYU, and have your age plus years of service total at least 70 by your retirement date.

What is "full-time active service?"

"Full-time active service" is the service of a faculty member while they’re employed full-time (100 percent) by NYU. Paid sabbatical leave, family leave, and leave for service in the U.S. Armed Forces count toward full-time active service, as do periods of disability that entitle the faculty member to benefits under the University's short-term or long-term disability plans.

I have questions about faculty retirement and how it works at NYU. Who should I contact for more information?

For general questions about faculty retirement, please contact Stacey Gordon, Program Director for Retirement in the Work Life office. As you anticipate and start planning for retirement, Stacey will answer your questions, advise you on what to include on your personal retirement checklist, and encourage you to think about how you can best plan for a satisfying next phase. She will also introduce you to the NYU Faculty Retirement Society and provide a path for you to share your ideas to help develop this new campus initiative.

To discuss your retirement options with someone at your school, please contact your school representative:

School
Name
Email

Arts and Science

College of Arts and Science
Faculty of Arts and Science
Liberal Studies

Jonathan Lipman

jonathan.lipman@nyu.edu

College of Dentistry

Julia Murphy

julia.murphy@nyu.edu

Courant Institute of Mathematical Sciences

Kristy MacPhail

klt216@nyu.edu

Division of Libraries

Enrique Yanez

enrique.yanez@nyu.edu

Gallatin School of Individualized Study

Linda  Reiss

linda.reiss@nyu.edu

Institute for the Study of the Ancient World

Diane Bennett

diane.bennett@nyu.edu

Institute of Fine Arts

Brenda Shrobe

brenda.shrobe@nyu.edu

Leonard N. Stern School of Business

Susanna Stein

srs204@nyu.edu

Robert F. Wagner Graduate School of Public Service

Michael West

mike.west@nyu.edu

Rory Meyers College of Nursing

Susan Lippman

susan.lippman@nyu.edu

School of Global Public Health

Ana Abraido- Lanza

afa2001@nyu.edu

School of Law

Lisa Waldman

waldmanl@exchange.law.nyu.edu

School of Professional Studies

Karen Krahulik

karen.krahulik@nyu.edu

Silver School of Social Work

Sandra Kim

sk138@nyu.edu

Steinhardt School of Culture, Education, and Human Development

Lauren Brown

lbe2@nyu.edu

Tandon School of Engineering

Yao Wang

yw523@nyu.edu

Tisch School of the Arts Fred Carl fc11@nyu.edu

The retirement policies for tenured and continuing contract faculty faculty at NYU Abu Dhabi and NYU Shanghai differ from the policies at NYU in New York City. Faculty at NYU Abu Dhabi may contact Susan Wei, and faculty at NYU Shanghai may contact Casey Owens.

For questions about your individual retirement benefits, please contact PeopleLink.

Who should I notify that I plan to retire?

You should notify your department chair, your dean or director, and/or the director of human resources at your school. Participation in the Tenured Faculty Special Retirement Program requires you to complete and submit a retirement election form to your school contact person by August 3, 2020.

How much advance notice should I give before retiring?

In general, faculty members should give a one year notice of their intent to retire, but the university requests that the faculty member  give no less than one semester notice.

Can I retire on any date?

Barring emergencies, faculty members normally  retire at the end of an academic semester. For the fall semester, that date is December 31, and for the spring semester, it is August 31.

Retiree ID Card

What is an NYU Retiree ID card? How do I get one?

Upon their retirement, faculty are eligible to trade in their current NYUCard for a retiree NYUCard. Retired faculty maintain the same general NYUCard swipe access they have as active NYU employees (e.g., Bobst, Kimmel and the turnstiles and/or front doors across the main academic buildings during regular business hours). 

Below are steps to obtaining a retiree NYUCard:

  1. Retiree must contact the Human Resources partner for their department or unit and ensure their classification is updated to ‘Retiree’.
  2. Once their classification is updated, Retiree must wait 24 hours before the change will appear in the NYUCard database.
  3. After the waiting period, Retiree may visit the card centers at 7 Washington Place in Manhattan or 2 MetroTech Center in Brooklyn during regular business hours to trade their employee NYUCard for a retiree NYUCard. The employee card must be surrendered at the time of the trade.

Please note: Retired faculty members can request NYUCards for their dependent family members by contacting PeopleLink.

Emerita and Emeritus Status

Which faculty are eligible for emerita or emeritus status?

The honorific titles of Professor Emerita and Professor Emeritus are eligible only to full professors. This includes tenured full professors and continuing contract full professors with modified titles, such as Arts, Clinical, Music, or Industry, who meet the eligibility criteria detailed in the Faculty Handbook.

How do faculty members apply for emerita or emeritus status?

Emerita or emeritus status is not automatic. It requires a vote by the department, endorsement by the faculty chair and dean or director, and approval by the Provost. The Faculty Handbook provides additional information. If you are eligible, you can contact your department chair to inquire about emerita or emeritus status.

Research and Creative Work After Retirement

Can I continue to serve as a Principal Investigator (PI) or Project Director (PD) on research grants through NYU after I retire?

With the approval of the responsible department chair and dean or division head, retired faculty on whom the emerita or emeritus title has been formally conferred, and who would have qualified as a PI or PD prior to retirement, may continue to serve as a PI or PD on existing awards and on proposals that were submitted prior to retirement. Requests from emerita or emeritus faculty to serve as PI or PD on new proposals or projects that are initiated after retirement will be considered on an individual basis and will require the prior written approval of the dean and the Vice Provost for Research, or their designee. Retired faculty who do not have emerita or emeritus status, and who would have qualified to serve as PI or PD prior to retirement, are eligible to serve as a co-investigator.

Eligible retired faculty who serve as a PI, PD, or co-investigator are appointed as Part Time Research Affiliates. Emerita, emeritus, and other retired faculty who serve as a PI, PD, or co-PI, and who are not employees of the University, must make arrangements with their dean and the Office of Sponsored Programs (OSP) to ensure that sponsor eligibility and time and effort as well as other compliance criteria are met.

I currently have funds remaining in a research or professional development account. May I spend these funds on research, creative activities, or professional development after I retire?

Research and professional development funds are normally designated for use by individuals who are employees (i.e. active full-time faculty) of the University. Research and professional development funds are not available for use by faculty members after they retire.

Continued Employment After Retirement

May I teach as an adjunct faculty member after retiring?

Part time adjunct teaching opportunities may be available at the discretion of department chairs, depending on the needs of the department and academic programs. If you serve as an adjunct faculty member, you will be compensated using the customary formula for adjunct faculty members who have retired from full-time service if applicable.

May I accept full-time employment at NYU after retiring?

Faculty retiring under retirement agreements with NYU are not permitted to seek or accept any full-time employment with the University or its related entities after their retirement date.

If I accept adjunct employment at NYU after retiring, how will it impact my retirement account?

If a retired full-time faculty member is appointed to an adjunct faculty position, and is over 59 ½ years old, they will have access to all of their NYU Retirement Plan account balance. However, because of their appointment in an adjunct position, faculty members who serve as adjuncts will show as active employees in NYU's human resources system and at TIAA. To take a distribution from their NYU Retirement Plan account, they must contact the NYU Retirement Plan helpline at TIAA directly, at 844-NYU-TIAA (844-698-8422).

May I obtain a full-time faculty position at another university after retiring from NYU?

Yes. Retired faculty may take full-time employment with an employer other than NYU after their retirement date. If a faculty member accepts employment at another institution, they do not lose their NYU retiree benefits.

Retiree Benefits

I have questions about health/dental/vision/life insurance, Medicare, Social Security, and other benefits for retired faculty. Where can I find information on retiree benefits?

Begin by accessing NYU’s Planning for Retirement pages. Retiree benefits include medical, dental, and vision coverage; life insurance continuation; access to Health Advocate, Inc.; and tuition benefits.

You can find detailed information regarding Medicare (www.medicare.gov) and Social Security (www.ssa.gov) by visiting their websites.

Are there workshops about retirement benefits?

Yes. Workshops are offered to help faculty members understand retirement benefits. Workshops cover medical insurance, Medicare, Social Security, and more. For information about attending a retirement workshop, please contact your school representative. You can also contact PeopleLink at any time with questions about retirement benefits.

Housing

Does NYU provide resources to help find housing relocation opportunities?

NYU Work Life has compiled links (PDF) to resources that may be useful to faculty members as they consider relocation after retirement.

The University has also compiled information on nearby apartment buildings (PDF) that could offer alternative rental opportunities for retiring faculty. This information includes large apartment buildings (>100 units) that are within two miles of the Washington Square campus. Please note that the University has no formal agreement with the apartment buildings on this list, nor does it have any information as to the availability or condition of apartments. This list is in no way a recommendation or endorsement of these apartment buildings, but rather a list of buildings near Washington Square that may or may not be options for future housing.

Tuition Remission Benefits

Do my dependents and I continue to receive tuition remission benefits after I retire?

You can continue receiving tuition benefits for yourself, your spouse or registered domestic partner, and your dependent children under some circumstances. For information and definitions of dependents, please refer to the NYU Retirement Benefits Guide.

Email and Computing

May I continue to use my NYU email account after I retire?

Yes. As a retired faculty member, you do not have to do anything to retain your email, Google calendar, or NYU Home access. When the human resources office in your school changes your employment status from “active” to “retired,” your email access will continue uninterrupted. You will continue to receive periodic requests prompting you to change your email password in order to maintain the security of your email account.

May I continue to access software through the University after I retire?

Retired employees have uninterrupted access to Google applications, including email, calendar, drive, sites, groups, contacts, chat, and hangouts. More software access information.

May I continue to utilize IT support for my computer after I retire?

Yes. Retired employees can show their NYU ID and receive support at the IT Service Desk at 10 Astor Place, 4th floor, from Monday through Friday, 9 a.m. to 6 p.m. EST. Retired faculty can also request IT support by phone or online form. Details are available on the IT Service Desk website.

Discounts and Privileges for Retired Faculty

Does NYU offer retired faculty discounts for University and other services and activities?

Retired faculty are eligible for discounts at the NYU bookstore and at local businesses.  They can also get free tickets to NYU home athletic events. For more information, visit discounts and privileges.

Office Space

May I retain my office after I retire?

No. You must vacate your office when your teaching obligations as a full-time faculty member have ceased.

I would like to have access to office space at NYU for occasional work. Is that possible?

Temporary office space may be available in your department or school. Such space is typically available on a shared basis and may be designated for retired faculty who have teaching duties. Please contact your department chair for more information.

Donating Scholarly Books

I have many scholarly books that I would like to go to a good home. Where can I donate them?

NYU Libraries recommends donating books to Better World Books, a nonprofit organization that supports literacy in a variety of ways, including donating books and proceeds from book sales to underserved communities and regions around the world. You can also donate books to Internet Archive, a nonprofit library of millions of free books, movies, software, music, and websites.

NYU Faculty Retiree Society

Does NYU provide opportunities for retired faculty to continue to be part of the University after retirement?

Yes. As a retired full-time NYU faculty member, you are invited to maintain your connection with the University through participation in the new NYU Faculty Retiree Society. The NYU Work Life office is currently engaging faculty retirees to help develop this new and significant group on campus. We envision the NYU Faculty Retiree Society as a community that offers opportunities to engage with other retired faculty members, attend lectures and events, volunteer, provide mentorship, and participate in a variety of activities on campus. For more information and to join the NYU Faculty Retiree Society, please fill out this form.