What are the cash benefits provided under FIAP?
FIAP provides a cash benefit that is equal to the greater of (1) 165% of a faculty member’s “academic base salary”, which is the faculty member’s academic base salary as in effect at his termination of employment, or (2) 165% of the “average academic base salary” for full professors in a faculty member’s school during the academic year preceding retirement. Cash benefits are paid in 24 equal installments following a faculty member’s termination of employment.
