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Faculty Early Retirement Program (FERP)

Faculty

The Faculty Early Retirement Program at Cal State Monterey Bay provides eligible tenured faculty who are age 55 or older with the opportunity to retire and continue contributing to the university on a reduced time base for up to five years. As outlined in the collective bargaining agreement, FERP supports a flexible transition into retirement while maintaining continuity for students and academic programs. Faculty may work up to 50 percent of their pre-retirement time base, with resources and related documents available to guide planning, applications and benefit projections in coordination with CalPERS and university policy.

FERP and PRTB Calculator

The PRTB-FERP Retirement Benefits Calculator allows you to enter data to calculate an unofficial projection of your CSU salary and CalPERS retirement benefits. 

FERP and PRTB Calculator

More Resources

Eligible tenured faculty unit employees who have reached the age of fifty-five (55) may, subject to certain conditions, participate in a Faculty Early Retirement Program (FERP). Details of this program can be found in Article 29 of the collective bargaining agreement.

FERP allows retired faculty members to work up to five years after retirement. Timebase worked is limited to 50 percent of the time base in the year prior to retirement (working one semester at full-time or working half-time throughout the academic year for most full time faculty). Tenured faculty and librarians age 55 or older at the time of entry into the program are eligible. Counselor faculty unit employees are excluded. This is a negotiated benefit.

Pre-Retirement

PRTB allows academic employees to phase into retirement through a reduction in time base to an average of two-thirds, one-half, or one-third of full-time for a maximum of five years while maintaining full retirement credit and other benefits.

Post-Retirement

The Post-Retirement Program allows retired employees and FERP participants, with approval, to work at the university for a maximum of 960 hours per fiscal year or 50 percent of the hours employed during the last fiscal year of service prior to retirement. Non-academic employees may work a maximum of 960 hours per calendar or fiscal year.

FERP Application

Application to submit for consideration for Faculty Early Retirement Program (FERP)

FERP Application

Pre-retirement reduction in timebase

Article 30 in the CFA collective bargaining agreement

Pre-retirement reduction in timebase

Technical Letters

Technical letters from the Chancellor's office summarizing and updating the features and provisions of the FERP program

HR2017-04 Post Retirement Employment CalPERS' Retirees

FERP Technical Letter