Retirement Transition Program - One size fits none
 

Professor A is 62 years old.  He has been at Penn for 32 years, his best research is behind him and teaching the same subjects year in and year out is beginning to be tedious.  He is still, however, as intellectually alert as ever and would like to explore new opportunities while he has the vigor to do so.  Nevertheless he is apprehensive about the financial risks that go along with leaving his position. Professor B is an active 68 year old.  She has been working on a major research project that will require another 7 years of full time activity to complete.  She wants to continue advising her graduate students and attending colloquia; however, she realizes that she will be unable to complete the project if she continues undergraduate teaching.  Access to her laboratory is essential for her. Professor C is 65 years old.  As active as ever, he enjoys both his teaching and his scholarly work.  Fortunately he is in good health.  He plans to continue his activities as long as he is physically able. Professor D's health is not as good as it once was.  He still enjoys being part of the University and, in particular, teaching undergraduates although he no longer wants to experience winter's ice and snow.  He would like to teach during the fall semester and spend the winter in Florida. For many years the Faculty Voluntary Early Retirement (FVER)program helped provide a transition from full time status to retirement.  Mandatory retirement of faculty members at age 70 was eliminated at the end of 1993, under the law that prohibits age discrimination in employment.  With the end of mandatory retirement the FVER program ceased to exist.   No one knows for sure what the ultimate effect of uncapping will be on the University; yet we all agree that the lifeblood of the University is young scholars and we must be sure that the University has the financial and physical resources required to "renew" the faculty.  At the same time we must respect those faculty members who have contributed to the University. For these reasons the Faculty Senate through a subcommittee of the Committee on the Faculty has been investigating possible retirement transition programs.  The report of that subcommittee, chaired by Professor Emeritus Jean Crockett, appeared in Almanac on January 11, 1994.  Provost Marvin Lazerson has now appointed a Task Force on Faculty Retirement to receive those recommendations and to study possible alternatives. One thing is certain, one plan will not serve everyone equally well.  Each person has his or her unique goals and concerns.  I have tried to present some samples above. * Professor A would welcome a plan similar to FEVR under which he could take retirement (since retirement is no longer mandated, early retirement has no meaning) at age 62 and receive a transition salary equal to one-third of the average salary of professors in his school for five years. * For Professor B, the transition salary while important, is not as critical as the ability to do her research.  She would participate in the program if she had continued access to her laboratory and office and was treated as a full time member of the faculty. * Professor C has no interest in any transition plan.  He will continue to do his teaching and research as long as he is able.  When he feels that he can no longer continue he will retire. * Professor D wishes to move from full time status to part time status with a commensurate adjustment in compensation.  He will do this for five years and then retire. For each of Professors A, B and D the University will realize substantial savings in salaries which can then be used to "renew" the faculty.  Most importantly the University has provided a transition from full time status to retirement consistent with the goals of the individual faculty member.  We look forward to receiving the report from the Task Force on Faculty Retirement  and urge the task force to remember that the strength of the University is the faculty and to provide a wide choice of alternative transition programs.