Faculty who are considering retirement should consult with the dean early in their planning. Faculty are also encouraged to consult with a financial planner. The College will reimburse qualified employees up to $300 for costs incurred for financial planning advice provided by a certified financial planner, accountant, attorney or other planning professional. Additional information can be found on the Human Resources Web site here.
Faculty who will be between the ages of 60 and 65 at the time of their retirement period and who have at least 20 years of service at Carleton College may choose to continue on the College medical insurance plan until age 65. In that case, Carleton will pay 50% of the premium for the faculty member and the faculty members' spouse/domestic partner, if applicable. If the faculty member is over 65 and is carrying medical coverage for a spouse/domestic partner who is under 65, the spouse/domestic partner can continue on Carleton's plan through COBRA for up to three years (or until age 65), and Carleton will pay 50% of the premium.
The Dean’s Office will also contribute up to $500 to help defray the costs of moving books and other materials from a retiring faculty member’s office to their home or other location. Please contact Danette DeMann to make arrangements for reimbursement.
In addition, many privileges continue after retirement:
- Faculty who have signed a commitment to retire may teach one special “culminating” course (to be negotiated with the Dean). This may be a special topics course within the faculty member’s department or program, or may be an interdisciplinary or team-taught course. If a faculty member wishes to undertake a culminating project other than a course (for example, a scholarly or creative project, or a project related to professional or College service), he/she should consult with the Dean about the possibility of support for that project.
- In consultation with the Dean, unused PDA funds may be rolled over for research support post-retirement. In addition, retired faculty may apply for modest research support through the Dean’s office.
- Library privileges continue – retirees can borrow books for a year; request interlibrary loans, use computer searches (unless they are very extensive), and sign up for a book locker.
- Upon request, retired faculty may keep their e-mail and computing accounts.
- Campus updates and information about campus events - retired faculty select the types of updates and invitations they would like to receive (e.g. Carleton Weekly and invitation to employee recognition). Every summer the Dean’s office contacts retiring and retired faculty to ask if they wish to remain listed in the web directory and what types of College events and mailings they wish to receive.
- Recreation facilities and access to campus events.
- Auditing classes - if there isn't a waiting list; check with the instructor.
- College identification card - by calling Campus Services for an appointment to get a photo taken.
- Bookstore discount - by identifying oneself as a retired faculty member.
- Campus voice mailbox, available upon request.
Retiring faculty are also invited to let the Dean’s office know if they would like to continue to be involved in roles such as mentoring or tutoring. Wherever possible, we match retirees who are interested in such activities with opportunities.
Carleton offers the option of phased retirement in addition to regular retirement. Whereas in a regular retirement plan one goes directly from full-time employment to retirement, Carleton’s phased retirement provides the option of teaching part-time for a period of one to three years before retiring completely. Full details of the phased retirement plan are described in the Faculty Handbook.
Faculty on phased retirement will not be required to fulfill committee service or advising duties during their phasing period; however, should a faculty member on phased retirement be in residence all three academic terms of a given academic year and wish to continue these duties, such responsibilities may be negotiated with the Dean. Expectations regarding advising of student comps, participation in junior or adjunct faculty reviews, and hiring (for positions other than one's own replacement) should be negotiated with the department/program and the Dean.
A retiring faculty member or a faculty member on phased retirement may play the role of consultant in the search for his or her successor. However, he/she should not participate in meetings in which candidates are ranked or voting takes place.