WEST LAFAYETTE — About 30 percent of eligible Purdue employees have opted to take the university's incentive package for early retirement.
Purdue says 509 workers out of 1,644 eligible employees took the package designed to cut the school's salary and benefit costs and prevent involuntary layoffs.
Vice President for Human Resources Luis Lewin said the early retirement numbers match his office's projection about how many people would take the deal.
Certain faculty and staff members at least 60 years old were eligible for the package. The retirees will get up to $35,000 over five years for medical expenses. Tenured faculty members also get a one-time separation pay of half their base salary, while other staff get a quarter of their salary.
Ball State's University Senate is also looking into an early retirement model in order to cut costs. The Business Affairs Committee of Faculty Council reported in April they were looking into a phased retirement model.
Ball State's general budget was cut by $15.2 million last spring, a 5.5 percent reduction in funding from the state. The university's budget will be cut by $7.5 million annually after that. Purdue lost $45.5 million, a 6.1 percent reduction, to the budget cuts.
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