Currently full professor and associate professors are eligible for emeritus/a status. The process is described in Section 5.1 in the Faculty Handbook.
The University Faculty Committee is sponsoring a Senate resolution that would establish similar opportunities to a subset of the RTE faculty.
Note: While the awarding of emeritus/a status is an academic event, retirement itself is an HR event. The committee is in the process of developing RTE analogs for Faculty Handbook sections 5.2 Perks and Opportunities and 5.3 The Retirement Checklist.