Colleges and Universities and Education Finance and Purdue University and Education & Workforce Development

Purdue University staff could get early-retirement offer

August 24, 2010

Purdue University might soon be offering an early retirement plan to workers as it tries to reduce an anticipated $67 million budget shortfall over the next two years.

The university's Board of Trustees could consider approving the plan during a meeting on Monday.

Purdue vice president Luis Lewin said he couldn't provide details on the proposal but that employees would have 45 days to decide whether they will participate.

Purdue doesn't have a mandatory retirement age for most workers. A university committee has said an early retirement offer could reduce salary and benefit costs, and eliminate the need for layoffs.

Indiana Gov. Mitch Daniels in December ordered a 6-percent reduction in state higher education funding through next June because of shortfalls in projected state tax revenues.

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