Retirement of older faculty
August 31, 2018
One way to save money and invigorate the UAF faculty with new assistant professors
is to support the retirement of older full professors with their subsidized health
insurance they are on when they are faculty. Unfortunately, with COBRA over $18,000
per year for two adults, the high cost of health insurance is keeping these older
full professors in the faculty until they turn 65 and are eligible for medicare.
This costs the university about $40,000 per year in full professor versus assistant
professor salary. A win-win would be to do what other state universities are doing...support
retiring faculty at the same subsidized health insurance rate until they turn 65.