SPEC Kit 320: Core Beneﬁts · 43
An Early Retirement Incentive Program or ERIP is an employer sponsored plan that provides special beneﬁts or incentives to an
employee who makes the decision to retire sooner than they had otherwise planned.
25. Does your institution offer an Early Retirement Incentive Program to library staff? N=55
Yes 12 22%
No 43 78%
A phased retirement program allows an employee to continue working with a reduced workload and eventually transition from full-
time work to full-time retirement.
26. Does your institution offer a formal phased retirement program to library staff? N=55
Yes 25 46%
No 30 54%
If yes, which of the following applies? N=25
A pre-retirement gradual reduction in hours (or days) of work 14 56%
A post-retirement part-time assignment for retirees 4 16%
Both 5 20%
Other 2 8%
Please briefly describe the other program.
Available only to library faculty who must relinquish their tenure and sign a term contract for a maximum of three years
before the person must retire completely.
27. Please enter any additional comments or descriptions of these or similar retirement programs that
are offered to library staff. N=12
Early retirement incentive programs have been offered in the past, but are not always available. Phased retirement
is available, but not all librarians qualify. It depends on the appointment type. Phased retirement allows a gradual
reduction of hours, not to drop below 25% time, and a maximum length of 5 years.