Purdue University trustees OK early-retirement offer – Indianapolis Business Journal

Purdue University trustees OK early-retirement offer

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Purdue University officials say an early-retirement incentive being offered to more than 1,600 workers is aimed at minimizing
the need for layoffs while the school makes spending cuts.

Purdue's Board of Trustees approved the plan Monday during a meeting at the IUPUI campus. The incentive will pay up to
half an employee's annual salary and provide a five-year allowance toward medical expenses.

Officials are expecting up to 500 total professors and staff members who are at least 60 to leave their jobs. Up to $30 million
could be spent on separation pay, but administrators anticipate only two-thirds of those leaving will be replaced.

Purdue vice president Luis Lewin said the early-retirement program will also give the school an opportunity to streamline
and reorganize.

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In