Every graduating student who has received five years of funding is eligible for a 9-month post-doctoral position in the year immediately following the completion of the PhD program. [Students graduating at the end of the spring term of their fifth year, who will thereby not need summer funding on their fifth year, will be offered a 12-month post-doctoral position.]
To make this option viable for the department, students will have to serve as TAs for three semesters (rather than the current two). See TA requirement.