So I'm being offered a phased out early retirement. Still too young to stop working completely but realize that if my institution does not get enough takers they will just not offer contracts to some faculty this next academic year 2015/16 and they are threatening to cut pay across the board by 5%.
If I take it, I would reduce my work load by 50% at 75% of my current base pay. Then 2016/17 I would work at 25% work load at 50% of current base pay. In the meantime I could look to phase into another job. That last part is the risky part. Because year three and I'm done but eight years off of Medicare eligibility.
I need to look at my 403b and retirement asset levels. Tough decision, but better to phase out then possibly be laid off.
If I take it, I would reduce my work load by 50% at 75% of my current base pay. Then 2016/17 I would work at 25% work load at 50% of current base pay. In the meantime I could look to phase into another job. That last part is the risky part. Because year three and I'm done but eight years off of Medicare eligibility.
I need to look at my 403b and retirement asset levels. Tough decision, but better to phase out then possibly be laid off.
Put the internet to work for you.
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