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.
Ongoing FRIP Program
This program is available to faculty aged 63 to 71 with 15 years of service at 50% FTE or greater. Service at the University in a staff position counts toward the service requirement; however, the last 5 years must be as a member of the Academic Council or the Medical Center Line or as a Hoover Senior Fellow. Sabbatical leave time counts toward the service requirement but leaves without salary are excluded.
Window FRIP Program (Announced June 1, 2020)
The eligible age under the Window Program is 72 or older as of September 1, 2021 (that is, faculty born not later than September 1, 1949), with 10 years of service at 50% FTE or greater. Eligible individuals who wish to participate in the Window Faculty Retirement Incentive Program must submit an application form to their Department Chair, Director, or Dean, as applicable, no earlier than July 1, 2020 and no later than December 31, 2020.