509 Purdue University employees take early retirement

Nov. 3, 2010
School offered retirement incentives to reduce staff and save money

From The Indianapolis Star: Purdue University in West Lafayette, Ind., says that 509 of 1,644 eligible employees -- or 31 percent -- have opted to retire early and take advantage of a cash payout and extended medical benefits.What that means in terms of cash savings, the reason behind the incentive package, is less clear. In August, officials said they expected an annual savings from the plan of $6.6 million by July 2013.

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