What's your price for a buyout?

[bio-nonymous]

Our phased retirement plan is basically just a delayed buyout at 1 yrs. salary. Honestly, if I am ready to teach for 10 years, I'd start by asking for 10 years salary. I'd be laughed out of the office for that, but that's my initial bargaining position.

Yeah we do have a phased retirement plan which I think is actually pretty good (everyone is eligible when the time comes)- it is 3 years at 50% salary--with no service. I think it is a great plan, a colleague just recently finished up with this program and is "officially" fully retired (no teaching, no service), but is still here for a couple more years, only on their 25% research salary as their R01 winds down.

[lightning]

Our phased retirement plan is basically just a delayed buyout at 1 yrs. salary. Honestly, if I am ready to teach for 10 years, I'd start by asking for 10 years salary. I'd be laughed out of the office for that, but that's my initial bargaining position.

Yeah we do have a phased retirement plan which I think is actually pretty good (everyone is eligible when the time comes)- it is 3 years at 50% salary--with no service. I think it is a great plan, a colleague just recently finished up with this program and is "officially" fully retired (no teaching, no service), but is still here for a couple more years, only on their 25% research salary as their R01 winds down.

Beware of "no service" offers in phased buyouts. Even if you are not supposed to do any service, you will be guilted into doing service and your contributions in the area of guilt-service will be un-officially considered when "they" determine budgets that support your remaining duties. One of my former chairs learned this the hard way.