The Office of the Provost shares the following reminders and important deadlines related to Marquette’s Tenure Buyout Policy.
- The deadline for qualifying faculty to apply for a tenure buyout is 4:30 p.m. on Monday, Nov. 16, 2020. Late applications will not be accepted.
- Applications should be submitted electronically to Sally Doyle.
- The Tenure Buyout Policy stipulates the amount of money a faculty member is to receive in exchange for surrendering their tenure and is based on the option selected (immediate buyout or phased) as well as both the faculty member’s salary and age. For the immediate buyout, the payment is based on the faculty member’s age at the time of surrender of tenure.
- Those who are 68 or younger receive 100% of their salary.
- Those who are 69-70 receive 25% of their salary.
- Those who are 71 or older receive 5% of their salary. See the full policy for specific details.
Given the university’s current financial challenges and to further incentivize retirement, the Office of the Provost is increasing payments to faculty who are69 years of age or older. To that end, faculty who are 69 or older will receive 75% of their salary if they apply by the Nov. 16 deadline and surrender tenure on Dec. 31, 2020.
- Phased one or phased two options for retirement are also available. Contact Sally Doyle for more information.
- After the Nov. 16 application deadline has passed, the provost will charge a task force to review the Tenure Buyout Policy in its entirety. The task force will be asked to make a recommendation regarding the future of the policy, including specific changes, should the policy continue forward beyond this year.
With questions about the Tenure Buyout Policy, contact Gary Meyer, senior vice provost for faculty affairs. With questions related to your individual case, including eligibility, contact Sally Doyle, assistant provost for budget and division operations.
