From ESPN

The announcement will be that Favre will be inducted into the team's Hall of Fame in the summer of 2015 and the uniform No. 4 that he wore for the Packers from 1992-2008 will be retired, according to a statement on Favre's website. It was not immediately clear when exactly the number retirement ceremony will take place.
NFL network was saying last night that the Packers hand is being forced by the fact that he should be in the Packers HOF before being inducted into the NFLs.
Sure, I guess.