For benefits purposes, MIT considers faculty and other staff who leave MIT at or after age 55 with 10 years of benefits-eligible employment (after age 45) to be “retirees” of MIT, whether they resigned voluntarily, were laid off, or if they otherwise left involuntarily. Having retired from MIT does not preclude future re-employment at the Institute, although retirement benefits will sometimes need to be suspended if a retiree resumes work at MIT in a benefits-eligible status, and, as noted below, retirement does affect tenure for faculty. Information about retirement benefits can be found at the Human Resources Employee Benefits website.
A tenured faculty member relinquishes tenure upon retirement. Should a faculty member be reappointed after retirement, the appointment to the academic staff shall be made at the same rank held by the faculty member prior to retirement from MIT, although without tenure (see Section 2.3.1 Retired Professors).
As a pre-retirement option, during the five years prior to the normal retirement age (currently 65), a faculty member may negotiate with his or her department head a mutually acceptable part-time appointment of 50 percent or less. A faculty member who chooses this option and holds a 50-percent time appointment retains all rights during this period, including his or her chair and benefits status. A faculty member who holds less than a 50-percent time appointment will be eligible for benefits as a retired professor, but retains all other rights as an active faculty member. Under this option, a faculty member's tenure appointment is converted into a term appointment that ends after five years or at the normal retirement age plus three years, whichever comes first. At that point the faculty member is retired and may be appointed a professor emeritus or a Professor, Post-Tenure as outlined in Section 2.3.1 Retired Professors.