University making another round of early retirement offers
By Associated Press
MISSOULA, Mont. (AP) - The University of Montana is making another round of early retirement offers after just 14 of 48 faculty members age 65 and older accepted offers to retire in exchange for half a year's salary.
UM spokeswoman Paul Short said Tuesday the new offers will go to about 45 faculty members ages 60 to 64.
The university has the authority to spend up to $2 million on early retirement offers in order to cut faculty expenses by $4 million a year, beginning with the 2018-19 school year.
Short says the second offers will include the option of keeping their health insurance, with the premium cost coming from the 50 percent salary incentive.
The state Board of Regents has directed the university to reduce its staffing budget due to enrollment declines.