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Princeton University
Office of the Dean of the Faculty

Faculty Retirement Plan

November 2014

Welcome to the Dean of the Faculty retirement website. Materials on this page describe the retirement options available for ranked faculty members.

Bonus Retirement Plan (previously "New Retirement Plan")

Beginning with the 2010-11 academic year, retirement options for faculty aged 65 to 69 were expanded to include an age based retirement incentive plan that offers a bonus at the time of signing and an opportunity to enter a phased teaching arrangement for some number of years leading up to retirement. The goal of this plan is to foster faculty renewal.
As a precursor to introducing the Bonus Plan, during the Spring and Summer (February 2010 through August 31, 2010), Princeton launched the Initial Offering of the New Retirement Plan, open for that limited period to all retirement-eligible faculty aged 65 and over. The initial offering was successfully received by the faculty and resulted in new hiring opportunities for many departments.

Existing Retirement Plans

Complementing the Bonus Retirement Plan for faculty aged 65 through 69, Princeton continues to provide two phased plans and a simple notification plan for all retirement-eligible faculty members. These plans have been offered since the mid-1990s. These are all described in the links below.
In addition to the written material presented here, the Dean of the Faculty stands ready to discuss retirement with you in a one-on-one confidential environment. At any time, please feel free to contact Dean Deborah Prentice (8-3020, or Associate Dean Sandy Johnson (8-5230, to discuss your questions and concerns about retirement.

Life after retirement

Regardless of your choice of retirement plan or retirement date, the University is committed to maintaining a strong relationship with you in your retirement and hopes that you continue to be a strong presence on campus and a resource to your department and to Princeton. You remain eligible for Learned Society Travel support and for UCRH&SS grants (Humanities and Social Sciences) in retirement. Many university benefits from parking, e-mail, Dillon gym remain in place (Benefits for Faculty Members upon Retirement).

(revised June 14, 2011)