100 MSUM faculty members offered early retirement packageDozens of older and experienced faculty members at Minnesota State University Moorhead were notified last week that they are eligible for an early retirement package.
By: Forum News Service,
MOORHEAD, Minn. – Dozens of older and experienced faculty members at Minnesota State University Moorhead were notified last week that they are eligible for an early retirement package.
MSUM is looking to the early retirement of faculty members to offset a $4.9 million budget deficit and to avoid layoffs. The reduction in faculty members will align with the school’s decreased enrollment, which dropped by 566 students between 2010 and 2013.
The school sent eligibility letters to about 100 faculty members, MSUM spokesman David Wahlberg said.
They’ll have until Nov. 8 to respond with whether they’d be willing to accept early separation. From there, the school will offer early retirement incentives to about 35 people, or one person from each academic department.
The number of faculty members offered early retirement packages could vary because each offer is based on salary and years of experience at MSUM, Wahlberg said.
He said the school will calculate the budget savings once officials know which faculty members will agree to early separation and discuss the deficit reduction plan with the faculty association.