Retirement Incentive

Retirement Incentive for ESU Members     

If a member of the bargaining unit, aged fifty-five (55) or older, has served the University for twenty (20) years or more and has filed with the Chancellor in writing, prior to September 1 of the last year of service, an intent to retire at the end of the coming year and the intent to retire has been accepted by the Chancellor, the Chancellor shall increase the individual’s salary by $4000.00.

If the individual rescinds the intention to retire more than six (6) months prior to the effective date of the retirement any increase shall be forfeited and paid back. If the member rescinds less than six (6) months from the effective date any increase shall be forfeited and paid back, and the member may be transferred to a vacant or new position at the Dartmouth campus. If a member is transferred under this provision to a lower rated position the member shall retain their current salary.

Retirement Incentive for AFT Members

If a tenured member of the bargaining unit, aged fifty five (55) or older, has served the University for twenty (20) years or more and has filed an intent to retire at the end of the coming year in writing with the Chancellor prior to September 1 of the last year of service and the intent to retire has been accepted by the Chancellor, the Chancellor shall increase the retiring individual's salary by an amount equal to the promotion amount for promotion to Professor.

If the individual rescinds the intention to retire, any increased rank or salary increment shall be forfeited and any money realized from the promotion or salary increment shall be paid back in the same manner it was paid out.