Ponca City, OK

Now: 40 °F

Currently: Fair

Hi: 70 °F | Lo: 44 °F

Friday

Hi: 72 °F 

Lo: 46 °F

Saturday

Hi: 78 °F 

Lo: 50 °F

Sunday

Hi: 79 °F 

Lo: 59 °F

Monday

Hi: 80 °F 

Lo: 64 °F

Tuesday

Hi: 78 °F 

Lo: 66 °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

Tulsa man charged in teen’s overdose death

TULSA, Okla. (AP) – Police say a Tulsa man has been charged with murder in the...

Bill Coleman interviews Kevin Stitt, a Republican candidate for Governor

Bill Coleman interviews Kevin Stitt, a Republican candidate for Governor

Time for AP students to do pre-admin session for AP exam

It is time for Po-Hi students in AP classes to make arrangements to do their pre-admin session for...