Projo 7 to 7 News Blog

PROVIDENCE, R.I. -- Brown University announced Wednesday that it is offering eligible non-faculty employees an incentive for early retirement, in its efforts to reduce the university's projected $30-million deficit for the 2010-11 academic year.

The incentive includes a lump-sum payment equal to a year's base pay and an additional $15,000 lump sum to assist employees with their transition to retirement. Employees will also have the option to continue in Brown's health insurance plan until age 65, paying the full premium.

Eligible employees must be at least 60 years old by June 30, have worked continuously at Brown for at least 10 years, work in positions that are at least half-time, and in union positions or those ranked 13 or lower on Brown's 15-level position evaluation scale.

The university said about 260 employees are eligible for the offer, which begins on Monday and ends Dec. 23. The retirement dates will be either April 15 or June 30.

 Tags  Brown University deficit education

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