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5.3.1 Retirement

Last updated on:
Friday, September 1, 2017
Formerly Known As Policy Number: 
5.2.F

The University offers a generous medical insurance program for Faculty members who retire and meet the program’s eligibility requirements. Eligibility is based on your age, the date you were hired, plus the number of eligible years of service you accrue. You should contact Stanford Benefits in order to determine your personal eligibility. Faculty members who retire in the fall quarter of the academic year will not receive a salary increase for that academic year.

For purposes of personal financial planning, the University will provide Academic Council and Medical Center Line faculty and Hoover Institution Senior Fellows up to $1,000 for reimbursement for the services of financial planners or consultants. This reimbursement, which is treated as taxable income to the faculty member, is available only once in an individual’s career and requires the submission of a receipt to the Faculty Affairs Group of the Provost's Office. Please contact the Faculty Affairs Group (facultyaffairs@stanford.edu) of the Provost's Office for more information about this reimbursement.

Although not compelled to retire at any age, Stanford faculty nevertheless consider retirement arrangements as part of their personal and professional planning. Many Stanford faculty, individually and through the Academic Senate, expressed interest in the development of options to increase the financial feasibility of retirement. In response, Stanford University has made available the Faculty Retirement Incentive Program. The Faculty Retirement Incentive Program, like any University benefits program, is subject to change or termination by the University. Only those benefits that are payable to an individual who is a party to a fully executed Agreement and Release under the program will be protected from change or termination by the University. Specific information about any current faculty retirement incentive program may be obtained at https://facultyaffairs.stanford.edu/retirement or from Faculty Affairs at facultyaffairs@stanford.edu.