In order to provide our tenured faculty members who are nearing retirement age (55 and older) with options to assist them in a transition from full-time work to full retirement, we have created a calculator to compare two programs that are available to all eligible faculty in the CSU. The Pre-Retirement Reduction in Time Base (PRTB) program provides for the continuation of full service credit towards retirement with a reduction in work assignment and pay during a 5 year period. The Faculty Early Retirement program (FERP) enables qualified faculty members to retire, to receive full retirement pay, and to teach no more than half-time at their pre-retirement salary for up to 5 years. The on-line calculator allows faculty members to estimate which of the two programs would provide a better financial benefit with both short and long-term projections.
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