Phased Retirement is confirmed with certain eligible members of Yale faculty. For more information on the plans and eligibility, please visit the Provost’s Office Website.
When an agreement is reached, this manifests in a signed contract between Yale’s Retirement Planning office and the faculty member, denoting terms, start and end date, and FTE / pay schedule. Phased retirement is typically for a term of 1-3 years.
For non-School of Medicine faculty, OFAS processes all transitions to phased retirement in Workday, in collaboration with colleagues in the Provost’s Office. For School of Medicine faculty, central School of Medicine staff process all transitions to phased retirement.
Process:
- OFAS receives an email from Kate Castello, Director of Retirement Savings Plans, and processes a job change in Workday. This changes their FTE to 50%, changes full time to part time, and changes their rank to the relevant Phased Retirement equivalent rank. For example, if they were a Professor, their rank changes to “Professor Phased Retirement”. The business title is retained so that way if their title reflects any named professorships or other information, that remains intact, and we do not put “phased retirement” into any business titles. Since the faculty member will remain on payroll and at 50% FTE, they retain benefits, so this change should not have a benefit impact.
- After OFAS processes the job change, OFAS emails our colleagues in the Provost’s Office via provost.forms@yale.edu who process the compensation change to add the allowance plan. They process changes on a semesterly basis. Typically phased retirement costing is that the faculty member’s home academic unit pays for 50% of the salary, and then the Provost’s Office adds an allowance plan to add the remaining percentage of salary supplement that is in the agreement year by year.
- At the conclusion of the phased retirement period, if a faculty member is transitioning to emeritus status, OFAS processes the job change. If a faculty member is retiring without holding emeritus status, the home academic unit should process the termination in Workday.
Phased Retirement and Emeritus Status:
It is often the case that faculty members who are eligible for phased retirement may (but not always) be eligible for emeritus status. These are two separate nomination / voting processes, and it should not be assumed that faculty on phased retirement are automatically conferred to be emeritus. If a faculty member inquires about emeritus status, please write to OFAS at faculty.admin@yale.edu, as we coordinate changes to emeritus status, as well as coordinate votes and review eligibility.