Eligible Faculty FAQ
This document is for faculty who meet eligibility criteria as of August 22, 2025, or who may become eligible on or before June 30, 2027.
- Am I eligible?
For faculty whose primary faculty appointment is in the School of Architecture, School of Dramatic Arts, Dworak-Peck School of Social Work, Keck School of Medicine, Leventhal School of Accounting, Mann School of Pharmacy and Pharmaceutical Sciences, Marshall School of Business, or Viterbi School of Engineering, you are eligible if, as of August 22, 2025:
- You are a full-time tenured faculty member or clinical scholar.
- You will be at least 60 years old as of your planned retirement date (“Voluntary Separation Date”).
- You will have at least 10 years of continuous full-time service in your tenured or continuing appointment as a clinical scholar as of your planned retirement date.
For faculty whose primary faculty appointment is in the Dornsife College of Letters, Arts and Sciences, Roski School of Art and Design, Price School of Public Policy, or the USC Libraries, you are eligible if, on August 22, 2025:
- You are a full-time tenured faculty member or librarian with a continuing appointment.
- You will be at least 60 years old as of your planned retirement date (“Voluntary Separation Date”).
- You will have at least 10 years of continuous full-time service in a tenured or continuing appointment as of your planned retirement date.
- If you are in phased retirement or another retirement agreement, you may still qualify by moving your separation date up by at least one full semester (or six months).
To address questions about your specific eligibility, please reach out to your school or unit’s Dean of Faculty or Faculty Affairs contact.
- Am I eligible if I turn 60 anytime between now and June 30, 2027?
You may be eligible to enroll in the Faculty Retirement Incentive Program (FRIP) during the August 22 – December 15, 2025, enrollment window if you will turn 60 on or before June 30, 2027.
If you wish to participate in the program, please reach out to your school or unit’s Dean of Faculty or Faculty Affairs contact to confirm that you will meet the age and service requirements on your intended day of retirement, assuming you wish you retire on a day within the October 1, 2025 through June 30, 2027 window.
- What are the payment options?
| Option | Fall 2025 | Spring 2026 | AY26-27 |
| Voluntary Separation Date Range | Oct 1, 2025 – Jan 6, 2026 | Jan 7, 2026 – June 30, 2026 | July 1, 2026 – June 30, 2027 |
| Incentive Payment | 75% of Academic Core* | 50% of Academic Core* | 35% of Academic Core* |
| Health Care Transition Bonus | $10,000 | $7,500 | $5,000 |
| Financial Planning Reimbursement | Up to $3,000 | Up to $2,000 | Up to $1,500 |
* Academic Core is considered base salary for teaching, research, and service. You are encouraged to consult with your school or unit’s Dean of Faculty or Faculty Affairs contact to gain clarity on your specific circumstances.
- How will I get paid?
Incentive payments are handled differently by school or unit:
- Lump sum: Architecture, KSOM, Leventhal, Marshall, Price, Viterbi
- Monthly installments: Dornsife, Dramatic Arts, Dworak-Peck, Libraries, Mann, Roski
Please note that this is determined by your school or unit and cannot be changed.
All health care transition bonuses will be paid as a lump sum within 30 days of completing your retirement agreement following the university’s approval.
- Will my payment be taxed?
Yes — taxes, deductions, and any amounts you owe USC will be withheld from the incentive payment, health care transition bonus, and reimbursements for financial planning fees. This is also true of any vacation payouts that may be made following your retirement date (also known as the “voluntary separation date”) if your job profile is eligible for vacation accrual.
You are encouraged to consult a tax advisor for your personal situation. You may also reach out to the Emeriti Center Director and faculty retirement navigator, Debbie Jones (jonesdeb@usc.edu), who can also advise you on the retirement process at USC.
Additional retirement resources can be found on the Employee Gateway.
- What happens to my health insurance once I retire?
Your USC health insurance coverage ends on the last day of the month you retire. COBRA will be made available to you after your retirement date.
For faculty who are under the age of 65, the health care transition bonus is intended to help you pay your COBRA premium upon retirement.
Medicare-eligibility begins at the age of 65 for U.S. citizens. Note that Medicare enrollment can take 60–90 days, and you are encouraged to begin the enrollment process as soon as you decide on a retirement date.
We encourage you to meet and consult with USC Retirement Administration for an individual consultation. They can help you in identifying health insurance options post-retirement for which you are eligible (e.g., COBRA, Medicare).
- Click here to schedule a virtual appointment to discuss financial benefits
- Click here to schedule a virtual appointment to discuss retirement navigation
Medicare-eligible faculty may also apply for USC Senior Care following retirement for a monthly rate. This is intended to supplement your Medicare health insurance.
Additional retirement planning resources and information about health insurance coverage can be found on the Employee Gateway.
- What happens to the other benefits I enjoy?
Retirement contributions, life insurance, tuition assistance, and other benefits end upon retirement. You are encouraged to consult with a retirement navigator (Debbie Jones, jonesdeb@usc.edu) or a health care benefits transition specialist (rpadmin@usc.edu) to understand your specific situation.
Note that by participating in this program, you remain eligible for emeritus status should your peers and dean recommend you for the honor. Emeriti faculty enjoy specific benefits post-retirement. You can learn more on the Emeriti Center website.
- Can I work at USC again post-retirement?
Generally, no. However, a dean at their discretion may recall you to service at least one semester after your retirement date. This may be to allow you to continue to teach part-time or wrap-up research projects, so long as the total effort never exceeds 20% FTE of your average FTE of the past three years at any given time.
- I’ve submitted my Application Form. When will I know if I’ve been accepted?
Once your Application Form has been submitted to the Vice Provost’s office, you can expect to be notified whether you’ve been approved within 10–15 business day.
- How will USC decide who is accepted?
While this program has been built in close collaboration with deans and school representatives, applying does not guarantee participation. The dean or the university may limit the number of participants for business reasons and may select based on unit, department, job title, seniority, or location. Final eligibility decisions are made by the University.
- Can I change my mind about participating in the program after I apply?
You can withdraw your application to participate in the incentive program by submitting a Withdrawal Form within 7 days of your original Application Form submission to the Vice Provost for Academic and Faculty Affairs or the Associate Senior Vice President for Health Affairs, Academic and Faculty Affairs. After that 7-day period, withdrawal is only possible if USC does not approve your application.
- Can I change my retirement date after I apply?
Each situation is different. You are encouraged to consult with your department chair, dean of faculty, and / or academic dean to determine whether such a change is permitted based on the needs of your school or unit.
We also encourage you to keep in mind that any date of retirement you select will need to be approved by your school or unit’s leadership prior to submitting your Application Form to ensure it does not conflict with present or future teaching, research, or service obligations.
- Should I get legal or financial advice?
Yes — it is always a good idea to speak with your personal attorney and/or financial advisor before deciding whether or not to proceed with retirement and if your personal timing aligns with the benefits of this plan.
- What do I need to do to be reimbursed for financial / retirement / estate planning consult fees I’ve incurred?
You may receive reimbursement for consulting fees you’ve paid for that relate to financial, retirement, and / or estate planning consultations that were incurred beginning August 22, 2025, through 90 days following your retirement. All receipts must have already been paid for by you personally to be reimbursed.
The amount you are eligible to have reimbursed depends on the date of your retirement. See Question 3 for relevant dates and reimbursement allowances.
Receipts that require reimbursement must be received within 90 days of your retirement date and within 30 days of your original payment. Provide all applicable receipts to Debbie Jones (jonesdeb@usc.edu), Emeriti Center Director and Faculty Retirement Navigator. She will work with your school or unit as well as the relevant administrative units to ensure your reimbursement is processed in a timely manner.
Note that your reimbursements are considered taxable income and the appropriate taxes will be withdrawn before being paid to you.