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 Retirement Program

The New York University Tenured Faculty Retirement Program (TFRP) provides full-time tenured faculty members with clear and transparent voluntary options for retirement from active service: a one-time retirement supplemental payment or a phased reduction of workload over one or two years. The Program offers a predictable retirement pathway that is not subject to individual negotiation or variability across schools. The Program removes uncertainty from retirement planning by providing a clear set of options that are available to all eligible tenured faculty at NYU New York (not including the Grossman School of Medicine or the Long Island School of Medicine). Below are questions and answers that are designed to provide general information about the Program. A full description of the program is here

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When was the Tenured Faculty Retirement Program established?

Provost Katherine Fleming announced the program in a letter to the tenured faculty on June 14, 2021.

What are the options in the Tenured Faculty Retirement Program?

The Program, which includes all the standard University retirement benefits, offers tenured faculty three options. You may voluntarily elect any one of these options, or you may elect to retire without participating in the Program, and thus you will not choose an option.

  • Option A: Retirement Supplemental Payment
    • If you are eligible for and elect this option, you will receive a lump-sum payment equal to two times (2x) your annual base faculty salary (subject to withholding taxes and other deductions) upon retirement.
  • Option B: One-Year Phased Retirement
    • If you are eligible for and elect this option, you will work one academic year with 50 percent workload reduction and receive full base faculty salary (95% salary during the academic year with a 5% lump sum payment at retirement). There is no additional lump-sum retirement supplemental payment in this option.
  • Option C: Two-Year Phased Retirement
    • If you are eligible for and elect this option, you will work two academic years with 50 percent workload reduction each year and receive full base faculty salary for the first year and 75 percent base faculty salary for the second year (95% of the 75% during the second academic year with a 5% lump sum payment at retirement). There is no additional lump-sum retirement supplemental payment in this option.

What are the eligibility requirements?

Option A: Retirement Supplemental Payment

  • You are eligible for this option if you are a full-time tenured faculty member of any rank who meets the following requirements:
    • (i) Your age plus years of continuous, full-time service equals or exceeds 70 on your retirement date,
    • (ii) Your years of continuous, full-time service equal or exceed 10 on your retirement date, and
    • (iii) You are at least age 67 and not older than age 69 on your retirement date.

Option B: One-Year Phased Retirement and Option C: Two-Year Phased Retirement

  • You are eligible for these options if you are a full-time tenured faculty member of any rank who meets the following requirements:
    • (i) Your age plus years of continuous, full-time service equals or exceeds 70 on your retirement date,
    • (ii) Your years of continuous, full-time service equal or exceed 10 on your retirement date, and
    • (iii) You are at least age 65 and not older than age 75 on your retirement date.

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

For academic year 2021-2022 only:

  • To enroll in the Program, please submit electronically a completed enrollment form anytime between October 1, 2021, and the submission deadline of December 13, 2021.  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 enrollment form, a formal retirement agreement will be prepared and transmitted to you via your school representative. You must return the signed agreement to your school representative by June 17, 2022
  • The retirement dates for faculty who have signed agreements will be as follows:
    • Option A:  August 31, 2022
    • Option B:  August 31, 2023
    • Option C:  August 31, 2024

For academic years after 2021-22:

  • A faculty member will submit the enrollment form between January 1 and March 1 of the academic year of their retirement (for Option A) or between January 1 and March 1 of the year preceding the academic year in which reduced service will begin (Options B and C)
  • The faculty member will enter into a signed formal retirement agreement not later than June 1 of the academic year prior to retirement (for Option A) or June 1 preceding the academic year in which reduced service will begin (Options B and C)
  • The faculty member will retire August 31 of the enrollment year (Option A), the first year following enrollment (Option B) or the second year following enrollment (Option C).

On the August 31 retirement date for my preferred option, I will be older than the upper age limit. Can I still enroll?

Yes, but only during the enrollment period in the initial year of the program. That enrollment period ends December 13, 2021. After that date you will not be eligible to enroll in an option if your age exceeds the upper age limit for that option.

I do not meet the continuous full-time service requirement, but in the future when I will meet that requirement, I will be older than the upper age limits for one or all options.  Will I be able to enroll?

Yes, there will be a one-year opportunity for you to enroll after you meet the service requirement.

Is it possible to choose a date for retirement other than August 31?

No. The Tenured Faculty Retirement program is designed to eliminate individual negotiations in the retirement process. All faculty who participate in the TFRP will retire on August 31.   

The Stern School currently offers a school-based retirement plan for tenured faculty. May I choose to participate in either the University-wide plan or the Stern plan?

The Stern school-based retirement plan for tenured faculty will permit enrollments through August 31, 2021. After that time, Stern faculty who are eligible may only opt to participate in the University-wide Tenured Faculty Retirement Program. The closure of the Stern plan will not affect Stern faculty who have enrolled as of August 31, 2021 or have signed retirement agreements as part of that plan.

Will I continue to receive allocations to my research account or individual development account if my duties are reduced under Option B or Option C?  

Allocations to those accounts will be in accordance with the standard practices of your school. Please check with your school representative.

I currently receive a summer salary. Will I continue to receive that prior to retirement if I elect to retire under Option B or Option C?

Summer salary from university funds will not be paid to a faculty member who elects to retire under Option B or Option C. Summer salary from research grants may continue if full time grant work during the summer continues prior to retirement, consistent with the requirements of the funding agency and NYU policies. Summer salary that is tied to administrative duties will be determined on a case-by-case basis depending on what portion, if any, of the administrative duties will still be carried out under a 50% workload reduction.

I currently receive an administrative stipend. Will I continue to receive that prior to retirement if I elect to retire under Option B or Option C?

That will be determined on a case-by-case basis depending on what portion, if any, of the administrative duties will still be carried out under a 50% workload reduction.

I have earned sabbatical credits. How does sabbatical work with the Tenured Faculty Retirement Program?  

A faculty member who is eligible for earned sabbatical leave may take a maximum of one semester of leave no later than the fall term prior to retiring. Depending on the number of earned sabbatical credits, the faculty member will receive either 100 percent or 75 percent of their base faculty salary during the sabbatical. Faculty who select Option C: Two-Year Phased Retirement may take sabbatical leave only in the first year of the phased retirement.

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

Yes. Program participants will receive the NYU retirement benefits generally available to similarly situated faculty. For faculty who are on reduced salary (TFRP Option C), please note that the University’s contribution to the retirement plan will be based on this reduced compensation and credit towards years of service will be based on the reduced service percentage.

I already signed a retirement agreement, but now I would like to change my mind or participate in the Tenured Faculty 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?

Information on faculty housing for faculty who participate in the Tenured Faculty Retirement program is available here.

I live in NYU housing. If I retire under the Tenured Faculty Retirement Program does the University offer relocation assistance?

Yes. A relocation allowance is available to eligible faculty residing in NYU housing.  Eligibility criteria are described here.

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

For more information about the Tenured Faculty Retirement Program—or to enroll—please reach out directly to your school representative.         

If you would like more information about retiree benefits, please contact PeopleLink or your school’s human resources officer.

We encourage you to visit the Work Life webpage to arrange a confidential conversation about envisioning retirement and next phase options, such as encore careers or volunteer opportunities.

Are there faculty retirement workshops I can attend?

Yes. There are two types of workshops:

Retiree Benefits

A retirement benefits workshop will be offered at four times.  Each workshop will cover retiree health care and other post-retirement benefits; Medicare; Social Security; and TIAA. Registration is required, through the links below for the respective dates. All 90-minute sessions will begin at 12:00 noon.  

Thursday, October 7, 2021

https://nyu.zoom.us/webinar/register/WN_n-SJ1KOOTGm507xk1gZwCw

Wednesday, November 17, 2021

https://nyu.zoom.us/webinar/register/WN_-kUy0JhgSfOdGPJdSBl68A

Envisioning Retirement Workshops

After spending many years teaching, researching, mentoring, and contributing to the NYU community, you may be considering retirement, but are unsure what your life would look like in its next phase. The Work Life office invites you to join us for a workshop that will help you envision what retirement might look like for you. Registration is required for the 60-minute session, through the links below, for the respective dates.

October 7, 2021, 1:00 – 2:00 PM

https://nyu.zoom.us/meeting/register/tJIqfuyrqzwtG9M-eM_YZsbmMCQKd_-fElkC

Can I print a copy of the Tenured Faculty Retirement Program online brochure?

In early September, the University will distribute a printed and bound version of the brochure to all tenured faculty. In the meantime, you may view and print a read-only Google doc version of the online brochure.

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 Society of Retired Faculty 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

Marc LeBlanc

marc.leblanc@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

Sean Clarke

sean.clarke@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

LaRue Allen

lra1@nyu.edu

Tandon School of Engineering

Yao Wang

yw523@nyu.edu

Tisch School of the Arts

Fred Carl

Karen Shimakawa

fc11@nyu.edu

ks1472@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.

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.

Emeriti and retired faculty serving as PI/PD or Co-PI/Co-PD should be appointed as part-time with a job profile of “Visiting Professor (PT)” with an institutional base salary approved by the responsible department chair and dean or division head, with time and effort commitments across sponsored projects not to exceed 49%. For those who hold emeritus rank, the job title and business title can be “Professor Emeritus.”  For all others it should be “Visiting Professor.” Note that Emeriti and retired faculty are the only individuals with part-time status who are eligible to serve as PI/Co-PI.  For details, please see the NYU Policy on Principal Investigator/Project Director Status.

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 Society of Retired Faculty

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 Society of Retired Faculty. The NYU Work Life office is currently engaging faculty retirees to help develop this new and significant group on campus. We envision the NYU Society of Retired Faculty 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 Society of Retired Faculty, please contact Stacey Gordon.