Reminder – Retirement Options for Faculty and Librarians (PDAD&C #46)
From: Heather Boon, Vice-Provost, Faculty & Academic Life
Date: March 12, 2020
Re: Reminder – Retirement Options for Faculty and Librarians (PDAD&C #46)
Special Retirement Program
This is a reminder that the University has recently made available a special retirement program for faculty and librarians. The program, which is offered on a one time only basis, will provide a financial option for eligible faculty members and librarians who choose to retire or commence a paid leave of absence leading to retirement as of June 30, 2020. Faculty members or Librarians who wish to take advantage of the program are required to notify the University of their election by April 1, 2020. The Special Retirement Program has its own application form and a deadline of April 1, 2020. For more information on the Special Retirement Program, please see memo PDAD&C #26.
Normal Retirement Option
As is always the case, faculty and librarians may also provide notice of their intent to retire through the customary process. Under the customary process, a faculty member who wishes to commence retirement on July 1, 2021 must give formal notice of their intention by July 1, 2020. This is the annual formal reminder of this deadline.
Chairs, Deans, and Directors can find additional information and all necessary forms regarding the normal retirement process here. Information for faculty members considering retirement is available on the HR and Equity website.
All faculty members within 10 years of their normal retirement date (age 65) are invited to a Retirement Information Session. This year’s sessions will be held on:
- STG: March 31st and April 14th
- UTM: April 8th
- UTSC: April 30th.
Further details and registration can be found here.
Librarians, who may submit an intent to retire notice at any time, are welcome to attend these sessions. Retirement information relevant to Librarians is found here.
Please note that if a faculty member wishes to apply to take an earned research and study leave while in phased retirement, they must apply at the time of giving notice of intention to enter into phased retirement so that the leave can be considered and approved in the context of the planning process for the phased retirement.
For more information on retirement options, please contact the Academic HR Manager for your Faculty, or the Office of the Vice-Provost, Faculty & Academic Life at firstname.lastname@example.org.