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Under the terms of the program circulated by FAS, the University’s largest school, tenured faculty members 65 or older who have served at Harvard for at least 10 years are offered three retirement tracks varying by dates of retirement and accompanying benefits. The shortest term “1-Year Option” allows a maximum of a single year of paid sabbatical to faculty looking to enter retirement in 2011, while corresponding tracks make provisions for those indicating an intention to end their service in 2012 or 2014. Those faculty choosing to participate must accept...
Neal added that there was no target figure for participation in the program or any projections relating to the amount of budgetary relief that could be in store for FAS...
Harvard professors are currently the highest paid in the country, according to a recent report by the American Association of University Professors, with an average salary of $192,600 per year. In the 2009 fiscal year, FAS spent $147.8 million on all faculty salaries, according to the Dean’s Annual Report...
...FAS package is a one-time offer, which, currently, the Faculty “has no expectation of offering...again at a later date,” according to page nine of the pamphlet sent out to eligible professors today...
...FAS faculty package, eligible professors are presented with three options—a one, two, or four-year retirement plan. All eligible professors will be given $1,000 to support their financial planning while considering the report...