New Faculty Relocation/Moving Policy

Policy: No. OFA-1
Policy Name: Relocation/Moving Policy
Responsible Office: Office of the Provost - Office of Faculty Affairs
Effective Date: January 15, 2024
Revised Date: 

This policy defines the moving and relocation expenses that are reimbursable for newly hired members of the Tenured/Tenure Track faculty.

As a result of the Tax Cuts and Jobs Act of 2017, the cost of moving-related expenses is subject to taxation. Payment of relocation expenses is generally considered taxable income to the employee.

Who is Eligible Under this Policy

Newly hired full-time members of the faculty who are being appointed at the rank of Professor, Associate Professor, and Assistant Professor are eligible under this policy.

Visiting faculty members and Non-tenure-track full-time faculty members of any rank are not reimbursed for moving expenses under this policy.

Criteria

To be eligible under this policy, the newly hired faculty member must:

  • Move a minimum of 50 miles* from their current residence.
  • Move within the first year of their date of hire.

* An exception to the 50-mile rule must be approved by the Dean prior to moving.

If the eligible faculty member is terminated or voluntarily resigns from the University with less than one year of service, the faculty member will be liable for repayment of any covered relocation expenses.

Reimbursable Moving Expenses

Fordham University will reimburse up to $5,000 for allowable relocation expenses.

If two faculty members were offered employment at Fordham from the same household,  moving concurrently from the same location, Fordham University will reimburse the pair up to $7,500.

The University will only reimburse allowable expenses and will not pay an outside vendor directly.

Allowable Relocation Expenses

The University will only pay for appropriate and reasonable relocation expenses with original receipts.  These costs may include:

  • expenses for moving household goods and personal effects (including packing expenses);
  • transportation expenses (e.g., airfare, mileage) for the new faculty member and each immediate family member who will reside permanently with the faculty member during the move from the former residence to the new residence. In the case of airfare, reimbursement will be provided for a one-way standard economy class ticket using the shortest and most direct route.  No other fees related to air travel will be reimbursed.  If traveling by car, you will be reimbursed using the standard mileage rate set by the IRS as well as all tolls.
  • lodging expenses for the new faculty member and family during the move from the former to the new residence will be reimbursed. This reimbursement is not intended to include time spent near the area of your new residence prior to actually taking residence in the new residence (e.g., if delays in closing go beyond arrival in the new area of residence).
  • insurance for household items and personal effects during the move.
  • one-time pre-move visit to the NYC metropolitan area to secure housing will be reimbursed for the employee and their spouse or partner. Airfare, lodging, and rental car (if needed) will be reimbursed for a maximum of three nights.  Expenses for the pre-move visit are included in taxable income to the new faculty member.

Non-Allowable Relocation Expenses

Expenses not covered under this policy are:

  • Laboratory moves.
  • Office moves
  • Charges for moving pets and automobiles.
  • Expedited service.
  • Cost for replacement household items not transported to your new residence.
  • Meals while moving from your old residence to your new residence.
  • Meals, groceries, and lodging while occupying temporary housing in the NYC metropolitan area.
  • Meals & groceries during pre-move travel.
  • Storage of goods.
  • Items of extraordinary value, including artworks and antiques.
  • Tips to movers.
  • Unpacking of normal household goods, except mattresses.
  • Extra stops at any location other than the origin or destination.
  • Real estate broker fees or any other fees associated with obtaining housing (e.g. rent application fees and rental deposits)
  • Cash value of frequent-flier miles used to purchase airline tickets.

All costs beyond those covered under this policy are the responsibility of the new faculty member.

Procedures

In order to qualify for benefits under this policy, the new faculty member must:

  • Submit a memo outlining the request with all original receipts scanned to the department/school administrator for approval and processing within 30 days of the move.
  • Department/School administrator will submit a request using FinTrex.

Fintrex will route the request for approval to the designee in the Office of the Provost, Academic Financial Planning and Analysis.