Early Retirement As A Cost Saving Strategy

In an effort to save millions of dollars by encouraging top paid professors at the University of Rhode Island to retire early, higher education officials yesterday evening approved a hefty increase to a voluntary early-retirement bonus scheduled to be phased out this June. At an average $100,000 salary plus $40,000 a year in benefits for veteran faculty, URI would save about $120,000 next year for every professor who retires early. Read more at: http://www.projo.com/news/content/higher_education_03-25-08_LH9G8OC_v20.3584e4a.html