University Provost John Coatsworth said the plan will allow faculty over the age of 65 to receive 100 percent of their salaries upon retirement and phase out their retirements over five years.
Faculty are pleased that the University has overturned a policy that would have forced some retired professors to move out of their Columbia apartments. But with an aging faculty and demand for housing on the rise, it’s still unclear how administrators might address the faculty housing space crunch.
Sixteen Barnard administrators are taking advantage of the college’s early retirement program, which is set to expand to faculty members in the hopes of saving the administration $700,000 each year.
While the reason behind the sudden and coinciding retirement of so many Barnard administrators and faculty members is unclear, offering a significant number of employees early retirement is often a means by which colleges avoid cutting their budgets.
Mar 7, 4:53pm
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