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...packages, offered by the Harvard Medical School, the Harvard School of Public Health, the Harvard Divinity School, and the Harvard Graduate School of Education, represent the first official faculty retirement program laid out by the University since the federal mandatory retirement law—which permitted Universities to force professors to retire at the age of 70—was repealed...
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...
...proposal for a faculty retirement package surfaced as a possible cost-saving measure in the spring, when FAS learned that it faced a daunting $110 million deficit. In February, the University had opened an early retirement incentive program for staff members, 531 of whom ultimately took the package...
...package is presented as a service to professors for whom retirement is already in sight. “The FAS faculty retirement program is designed to support faculty who are considering retirement,” wrote FAS Spokesman Jeff A. Neal in an e-mail to The Crimson Wednesday...
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...