Phased Retirement Program for Tenure-line Faculty (Voluntary)

A voluntary University-wide faculty retirement option is a standing retirement benefit available to provide eligible, tenured faculty members increased flexibility during the final years of their academic careers. This phased retirement option is available to tenured faculty members on all three campuses who are at least 65 years old and have 10 or more years of service at Georgetown University and who may qualify for the plan.

The phased program allows eligible faculty members to work for up to two years at 50% effort, while receiving between 75% and 100% of their current annual faculty base salary, during the phased period. The plan will pay 100% of full-time base salary to faculty whose full-time base salary is up to 105% of the FICA limit in a given year, and the greater of 105% of FICA or 75% of full-time base salary to those whose full-time base salary is equal to or greater than 105% of the FICA limit.

Before making your decision, please read carefully the information and specific details of the program to determine whether the program is right for you. This website provides the following information:

Detailed description and explanation of the program: “Voluntary Phased Retirement Program for Tenured Faculty of Georgetown University”
Common Questions and Answers (FAQs)
Application & Work Plan Form
- Main Campus faculty must complete their application in their GMS account. Go to the Job Aid for instructions on how to apply: https://georgetown.app.box.com/folder/222929072849?s=b6eymcmcyvs6r8xfb6a4h0fkf0pyhbyw (new window)
- Medical Center faculty should go to the GUMC website for application instructions: https://ofaa.gumc.georgetown.edu/phased-retirement-program-for-tenure-line-faculty-voluntary/
- Law Center faculty should apply by completing the PDF form in the section “Read All Documents Here” and submitting it as instructed by the Law Center.
- Deadlines for Submission:
  - December 1, 2023 by 5pm (Main Campus)
  - February 1, 2024 by 5pm (Law Center and Medical Center)
Sample Agreement – Voluntary Phased Retirement Program
Age Discrimination in Employment Act Disclosure Form

Read All Documents Here

(Please note: This is a secure website accessible only by tenure line faculty. If you do not have access but believe you should, please contact facultyrecords@georgetown.edu for assistance.)

Please find a backup copy of the Application and Work Plan Request Form here, if technical difficulties arise.

Georgetown University’s Office of Faculty and Staff Benefits is available to answer any questions you may have about retiree benefits. Resources to help with pre-retirement planning, including a Retirement Checklist, are available at https://benefits.georgetown.edu/benefitsretirees/preretiree. Additional resources are provided at https://benefits.georgetown.edu/benefitsretirees.

Phased Retirement Program for Tenure-line Faculty Schedule
Schedule	Main Campus	Law Center and Medical Center
Eligible faculty informed about the opportunity to apply for the Voluntary Phased Retirement Program	September 1	September 1
Deadline for receipt of the Application and Work Plan Request	December 1	February 1
Inform Faculty, Departments and Deans of Review Outcomes	February 15	Approx. April 1
Agreement delivered to faculty accepted for program [1]	March 1	April 15
Signed Agreement due back from faculty [2]	April 15	May 30
Revocation Period ends	April 22	June 7
Phase-down period begins	July 1	July 1

Faculty members who are not accepted for the Program will be given notice of that decision and have 60 days (required by law) to submit an appeal to the Administrator.
Tenured faculty members electing to participate in the program will be required to execute a formal separation agreement and release of claims against the University, including claims arising under the Age Discrimination in Employment Act, and must be given at least 45 days within which to consider the agreement. In addition, such faculty members must be given a period of seven days after executing such a waiver to revoke her/his acceptance of the waiver.