Today marks the deadline to apply for the Staff Retirement Incentive program. Engineered and implemented earlier this month, the program was a “one-time-only” opportunity for staff to apply to retire early, in an effort to help alleviate excess financial strain on the University.

We saw the incentive plan as an appropriate gesture. Predicting massive layoffs, the University gave staff the chance to reconsider retiring amidst the financial turmoil in exchange for an “enhanced contribution” to the employee’s retirement fund in addition to a lump-sum payment.