1,270 Penn State faculty, staff offered voluntary retirement

Written by The Associated Press | Sep 7, 2016 3:30 PM
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(State College) -- Penn State has announced that it is offering voluntary retirement packages to about 1,270 faculty and non-academic staff members in order to address "budgetary and ongoing workforce challenges."

The university says the packages are being offered to about 590 faculty members, including research assistants and academic administrators such as assistant deans and department chairs.

About 340 of those deemed eligible are from the university's other campuses in the commonwealth, including more than 200 faculty and more than 130 staff.

Participants will get a one-time lump-sum payment of 100 percent of their annual base salary. Eligible faculty or staff have until Sept. 30 to decide.

Candidates were selected based on years of service and other factors, including the university's business needs and ensuring that educational and research activities are not interrupted.

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