A faculty member residing in university housing who elects to retire under this Program may be eligible for assignment to a studio apartment in university housing, provided that the faculty member satisfies the conditions for eligibility outlined in clauses 43 and 44 of their lease, including their obligation to have provided written notice to the Office of Faculty Housing of their election to relocate to a studio apartment no later than 120 days prior to their retirement date. If the faculty member elects not to request a studio apartment, they agree to vacate their current university housing and surrender their lease no later than one year after the retirement date or the end of their then current lease, whichever occurs first (the “vacate date”), after which they will no longer be eligible for any university housing.

Priority for studio apartments will be determined on a first-come, first-served basis based upon the date the eligible faculty member submits the TFRP enrollment form. An offer from the Office of Faculty Housing to a faculty member of a studio apartment with a specific move-in date will be forfeited if not accepted within 14 days of the offer, and the faculty member will be required to permanently vacate university housing by the vacate date (i.e., no later than one year from the retirement date or the end of their then current lease, whichever occurs first). If an offer is accepted in a timely manner (i.e., within 14 days of the offer), the faculty member will be required to relocate into the studio within 30 days of accepting the offer. If a faculty member requests to relocate to a studio apartment and none become available prior to their retirement date in their signed retirement agreement, the faculty member will be required to permanently vacate university housing by the vacate date (i.e., no later than one year from the retirement date or the end of their then current lease, whichever occurs first).

Relocation Allowance

A faculty member who currently resides in university housing and

  1. elects Option A, B, or C of the Program,
  2. is eligible, pursuant to the terms of their lease to remain in university housing for up to one year postretirement and/or to move to a studio apartment upon retirement, and
  3. waives the right in the retirement agreement
    to either (a) move into a studio apartment or (b) remain in university housing for up to a year after the retirement date or the end of the current lease, whichever occurs first, and instead elects, in the retirement agreement, to vacate university housing on or before the retirement date,

will receive a one-time, lump-sum payment of $30,000 (subject to tax withholdings and other deductions) as a housing relocation allowance within 15 days of the retirement date provided that the faculty member has vacated university housing on or before their retirement date. There is a limit of one relocation allowance per household.

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