More than 500 Purdue University employees have opted for early retirement after being offered a one-time incentive package.
Purdue announced Tuesday that 509 employees out of 1,644 who were eligible—about 30 percent—submitted requests for the package.
The plan, approved by Purdue's Board of Trustees on Aug. 30, was designed to reduce payroll costs and avoid involuntary layoffs.
System-wide, 440 who took the incentive are from the West Lafayette campus; 26 are from Purdue Calumet; 29 from Indiana University-Purdue University Fort Wayne; and 14 are from Purdue North Central.
Luis Lewin, Purdue’s vice president for human resources, said those numbers match his office's projection concerning the overall percentage of those eligible who would apply.
The applicants include 89 faculty; six non-tenure track faculty; 123 administrative or professional staff; and 291 clerical, service and operations/technical assistants staff.
All tenured faculty who turned 60 on or before June 30 and all other faculty and staff who will be 60 on or before Jan. 31 were eligible if they had been employed in a benefits-eligible position for at least 10 years. All
The retirees will receive $7,000 a year up to a total of $35,000 over five years that can be used to pay health premiums or other allowable medical expenses. Tenured faculty also will receive one-time separation pay equal to one-half their final year's base salary. Others will receive a quarter of their final year's base salary.