Thirty-five professors opted to retire in the initial stage of Princeton’s faculty-retirement program. Most of the departing faculty chose “phased” retirement plans and will continue to teach during the next three years, according to Dean of the Faculty David Dobkin.
The program, announced in March as a way to enable more junior faculty hires, offered a cash bonus equal to a year and a half of salary to faculty age 65 and older who agreed to transfer to emeritus status in the next three years. The deadline was Aug. 31, but faculty between the ages of 65 and 69 will continue to have the option to sign up for similar retirement incentives.
Dobkin said the process of adding junior faculty is under way and will continue over several years. “If you look at the faculty four or five years from now, you’ll be able to see the impact of this,” he said.