For more information, contact HR at the links below or attend one of our annual Retirement Workshops.

Faculty Compensation Illustration

$90,000 Annual Salary, Academic Year Appointment

10-Payment Schedule

  • $9,000/month, from September through June
  • 3 1/3 payments provide compensation each quarter
  • Retirement date between autumn and winter quarters results in 1/3 of a month's pay due on 12/31, regardless of retirement date (i.e., 12/15/05, 12/31/05, 1/2/06, etc.), though date determines benefits coverage and when lump sum payments are issued.
  • Retirement on 9/1 provides employment status, and benefits coverage through August, though payments completed by 7/1.

12-Payment Schedule

  • $7,500/month, from September through August
  • 4 payments provide compensation for each quarter
  • Retirement date between autumn and winter quarters results in a full month's pay due on 12/31; again, however, the date determines benefits coverage and terminal payment date.
  • Retirement on 9/1 provides same employment status and benefits, regardless of payment schedule, but in this case, payments are not completed until 9/1.