The Pre-Retirement Timebase Reduction Program (PRTB) and Faculty Early Retirement Program (FERP) Calculator

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.