NDSU finalizes early retirement packages for 30 employees
FARGO — North Dakota State University has accepted and finalized early retirement incentive agreements with 30 employees, including 17 administration/faculty positions and 13 staff positions.
Sixty-nine faculty and staff members applied for early retirement incentives by the Feb. 15 application deadline.
The incentive program provides eligible employees with incentive compensation based on their annual base salary and completed years of service, if they choose to voluntarily separate from NDSU.
An estimate for how much the latest round of early retirements will save the university wasn't immediately available, but in a similar belt-tightening move in 2017 NDSU accepted 55 buyouts, resulting in yearly savings of about $4.3 million.
Employees who applied for early retirement were not guaranteed to be accepted into the plan.
To be eligible, employees had to meet what is called the "rule of 65," meaning their age and years of service had to total at least 65.