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The Johns Hopkins University School of Medicine Senior Faculty Transition Program (SFTP) offers distinct and transparent pathways to retirement for full-time faculty. The SFTP allows eligible faculty members to reduce their full-time-equivalent percentage over one to three years until a set retirement date while retaining full-time health and welfare benefits. The retirement options and the development of this website were a result of 2016 recommendations made by the Dean’s Task Force on Senior Faculty Support and Transitions. The SFTP was created in direct response to faculty members who have expressed interest in retirement. It has been developed in a spirit of gratitude and appreciation for faculty scholarship, teaching accomplishment, and commitment to the school, as faculty move forward with a new phase of their careers.
The SFTP is available to School of Medicine faculty meeting the eligibility criteria that are outlined in the table below. For more information on the SFTP, please refer to the Senior Faculty Retirements Options Outline and the SFTP Frequently Asked Questions document. To confirm your eligibility and begin the enrollment process, please contact the SFTP Coordinator, Jennifer Van Beek at SOMRetirement@jhmi.edu. Part of the enrollment process is the completion of a letter detailing the transition plan which is signed by the faculty member and their Department Director. Template letters: PRI Department Director Template Letter and ARPR Department Director Template Letter.
| Phased Retirement Incentive (PRI) | All Ranks Phased Retirement (ARPR) | |
|---|---|---|
| Benefits | Retain full-time employee Medical and University Benefits during transition period of 1 – 3 years, during which your full-time-equivalent (FTE) percentage can reduce to as low as 30% FTE. University contribution to the 403b retirement plan will be proportional to base salary in effect at the time of the contribution. | Retain full-time employee Medical and University Benefits during transition period of 1 – 3 years, during which your full-time-equivalent (FTE) percentage can reduce to as low as 30% FTE. University contribution to the 403b retirement plan will be proportional to base salary in effect at the time of the contribution. |
| Eligibility |
|
|
| Duration | 1 to 3 years | 1 to 3 years |
| Full-Time Equivalent Percentage | Sample full-time equivalent percentage for 3 year phased retirement* Year 1 – 75% FTE *During PRI period, FTE percentage can be no less than 30%. The above schedule is for example purposes only. FTE must be mutually agreed upon in a binding agreement between faculty and Department Director. | Sample full-time equivalent percentage for 3 year phased retirement* Year 1 – 60% FTE *During ARPR period, FTE percentage can be no less than 30%. The above schedule is for example purposes only. FTE must be mutually agreed upon between faculty and Department Director. |
| Incentive Payment | PRI participants will receive a one-time payment of $100,000, less applicable tax withholdings, when they resign and retire from Johns Hopkins upon successful completion of the PRI agreement. | This program option does not have an incentive payment. |
The University expressly reserves discretion and the right to cancel or make changes to any of the Senior Faculty Transition Program options at any time.
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