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Faculty Retirement and Post-Retirement Activities (includes Emeritus and Adjunct)

PPD-1312

Introduction
Faculty contributions to research, teaching, and advisory services are central to meeting our institutional mission. As individual faculty prepare to retire it is important that a thoughtful and intentional plan is established to allow the individual and the Institute to plan accordingly. Much like the start-up package at the initiation of a faculty member’s tenure at VIMS, this PPD establishes a process for creating a ‘wind down’ package to ensure that individual and institutional needs are met.

Eligibility
Faculty members holding full-time continuing appointments are eligible for the wind down process described herein.

Process and Timeline for Retirement Planning
To allow for appropriate planning associated with research, teaching, and advisory service        responsibilities, a faculty member intending to retire is requested to begin that conversation with their Section Chair and Center Director, if applicable, and the Dean & Director’s office at least three years in advance of the proposed retirement date. This timeframe is consistent with the William & Mary Faculty Handbook Section III.B.5e. To allow for smooth transition of grants that may continue after the retirement date, faculty members may be required to have other institutional faculty members serve as co-PIs on existing grants and grants submitted during the wind down timeframe. Effort should be made to spend down existing accounts during this period. When notification of an upcoming retirement is given, discussions may occur regarding coverage of faculty unfundedness.

Post-retirement status

Emeritus status: as defined and outlined in the William & Mary Faculty Handbook Section III.C.1e

 Faculty wishing to be considered for Emeritus status should notify their Section Chair and Center Director, if applicable, and the Dean & Director’s office during retirement planning discussions (at least three years in advance of the anticipated retirement date, as noted above). Following the procedure outlined in the Faculty Handbook Section III.C.1.e, Emeritus status will be voted on by the faculty member’s Section. The Section Chair will forward the recommendation for Emeritus status to the Dean & Director, who will forward the recommendation to the Provost for approval by the Board of Visitors.    

 Adjunct status:

Retiring faculty members may request to return to work at the Institute in a reduced capacity with Adjunct status. This type of paid appointment is part-time, temporary, restricted and may be used to address short-term needs in education, research, or advisory service. Approval to return as an Adjunct is at the discretion of the Dean & Director and will be made on a case-by-case basis based on institutional needs. Retired faculty returning to work as Adjuncts must follow the W&M Faculty Retirement and Return to Work (FRRW) Policy, which outlines eligibility and the process by which FRRW agreements can be established. Please note that this policy specifies that:

  1. Part-time, temporary restricted employment following retirement is not a faculty right, but is arranged on mutual understanding of the faculty member, and the Section Chair and program[/Center Director], if applicable, with the approval of the Dean.
  2. Any agreement for reemployment (a “FRRW agreement”) must be in writing, but may not be offered until after retirement.
  3. Faculty in the FRRW program may earn no more than 50% of their pre-retirement salary.

Typical FRRW agreements at VIMS will be issued for 1 year, renewable annually for up to 3 years, not to exceed a total of 5 years.  

Individuals wishing to be considered for Adjunct status after retirement should indicate so during their retirement wind-down discussions. However, HR policy mandates that negotiations regarding the terms of Adjunct status (and associated approval) cannot be discussed until after retirement and the mandatory waiting period between retirement and reemployment. Once this waiting period has passed, the retired faculty member should contact the Dean & Director’s office to begin discussion of Adjunct status.

Retired faculty that have Adjunct status are part-time and do not accrue retirement or other benefits, pursuant to regulations of W&M, the Virginia Department of Human Resource Management, and the Virginia Retirement System. Adjunct faculty may participate in faculty governance but may not vote. 

Policies Guiding Post-Retirement Activities Associated with Emeritus and Adjunct Faculty:

  1. Space: Laboratory space will revert to central administration at the faculty member’s retirement date. Office space, if available, will typically be provided for up to three years following the faculty member’s retirement date. Space negotiations will be part of the wind-down package and considered on a case-by-case basis based on space availability, institutional needs, and the needs of the retired faculty member.
  2. Internal Funding: Spending of a faculty member’s indirect cost (IDC) and fixed price variance (FPV) accounts should happen during the wind-down phase prior to retirement. Any exceptions for spending remaining fund’s as an Adjunct must be negotiated as part of the Adjunct status approval process (noted above), and priority will be given to meeting the needs of any remaining students supervised by the faculty member at retirement.
  3. External grants and proposals: Retired faculty with Adjunct status who have active grants that extend beyond the typical three-year time limit for Adjunct status shall negotiate appropriate steps (which may include transferring the grant to a new Principal Investigator [with agency approval] or returning a portion of the funding) with the Dean & Director (or designee). Retired faculty with Adjunct status may not serve as PI on any new grant proposals or funding efforts. Serving as co-PI on grant proposals or funding efforts submitted after retirement will be determined on a case-by-case basis and will require written approval from the Dean & Director, who will consult with the Associate Dean for Research & Advisory Service and the Chief Financial Officer. Decisions regarding co-PI approval will be based on the benefit the activity will bring to the Institute.

Approved: February 6, 2024

last page update: 4/18/24 by LCS