Colgate provides for voluntary normal retirement at age 65 through a carefully administered pension plan. Depending on individual circumstances, members of the faculty may wish to retire before attaining age 65. The University recognizes the importance of flexibility in retirement planning and encourages members of the faculty to consider a variety of options. Questions concerning retirement planning should be directed to the Associate Provost or to the Human Resources Department.
Colgate also offers a Voluntary Phased Retirement for Teaching Faculty, which provides a means to move by one intermediate step into normal retirement through the reduction of teaching obligations and salary for a fixed period of time of up to three years duration. With approval of the Dean of the Faculty eligible faculty members (tenure-stream teaching faculty—full-time and Category I) may enter the program, which entails teaching two courses per year and continuing to serve the University through their scholarly activities, advising of students and committee and departmental service, for which they receive 50% of their notional annual salary. Benefit coverage continues through the period of phased retirement; elections to enter the program are irrevocable. See the document entitled “Colgate Voluntary Phased Retirement for Teaching Faculty” available from the Office of the Dean of the Faculty for a full program policy description and application form.