About 30 percent of eligible Purdue University employees take early retirement package
Indiana Business
November 2, 2010
Just over 30 percent of eligible employees have opted to retire based on a one-time incentive package, right on target with projections, Purdue University officials announced Tuesday (Nov. 2).
Of the 1,644 employees system-wide who were eligible, 509 submitted requests at the close of the consideration period. More than 90 percent of the requests submitted have been fully approved; those submitted on Oct. 29 won't be contractually final until Nov. 8 due to the required revocation period. Voluntary one-on-one counseling was provided to 570 of those eligible since the offer became available Sept 1. The deadline for applying was extended until last Friday (Oct. 29).
The plan, approved by Purdue's Board of Trustees on Aug. 30, was designed to reduce salary and benefit costs to meet current budget challenges, enable departments to realign resources to meet changing needs or strategic objectives, and avoid involuntary layoffs to the extent possible.
Luis Lewin, vice president for human resources, said those numbers match his office's projection concerning the overall percentage of those eligible who would apply.
"The participation rate reflects the package's attractiveness to all segments of the university community," Lewin said.
