Colleges and Universities and Indiana University and Retirement Benefits and Education & Workforce Development and Retirement and Workplace Issues

Indiana University to offer workers buyout plan

March 11, 2011

Indiana University is drafting plans to offer thousands of university employees a voluntary retirement buyout.

School spokesman Larry MacIntyre told WTHR-TV in Indianapolis that IU hopes to offer the proposal to eligible faculty and staff within the next month. The package will include part of the employee's salary and a health care bridge, but details are still to be determined.

MacIntyre says up to about 3,000 employees now working on IU's eight campuses could be eligible for the buyout.

Workers who accept the offer would not work past the current fiscal year, which ends June 30. The university would realize the savings of salary and benefits in the next budget, which begins July 1.

The jobs of employees who get the buyout would not be filled by the university.

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