Ponca City, OK

Now: 66 °F

Currently: Fair

Hi: 66 °F | Lo: 64 °F

Wednesday

Hi: 91 °F 

Lo: 74 °F

Thursday

Hi: 94 °F 

Lo: 75 °F

Friday

Hi: 95 °F 

Lo: 74 °F

Saturday

Hi: 87 °F 

Lo: 66 °F

Sunday

Hi: 88 °F 

Lo: 71 °F

University of Oklahoma eyes early retirement offer amid cuts

The Associated Press - March 7, 2017 10:42 am

NORMAN, Okla. (AP) – The University of Oklahoma is considering another round of voluntary early retirement offers to faculty and staff as a cost-saving move amid further expected budget cuts.

An agenda item for Wednesday’s OU Board of Regents meeting includes a recommendation from President David Boren that members approve the Special Voluntary Retirement Incentive.

If approved, university officials hope to save an estimated $9.4 million in annual budget costs of the Norman campus.

The buyout would apply to faculty and staff ages 60 and older and would include a one-time payment of 75 percent of the employee’s annual base salary, not to exceed $100,000. The university would also subsidize the employee’s medical insurance premiums.

A similar early retirement program offered last year resulted in about $13.7 million in savings.

 

Latest Stories

Midwest City man pleads guilty in child porn case, receives prison sentence

OKLAHOMA CITY – Gerald Prindle, 39, has pleaded guilty to charges relating to child pornography and...

Two stores make underage beer sales

Friday evening, Ponca City Police officers, working with teens from out of town, attempted to make...

A risky fix to repair a city’s gutted streetlight grid

TULSA, Okla. (AP) – After years in the dark, crews in Tulsa are finally scrambling to...