Voluntary retirement plan could help cash-strapped Pa. state university system

Susan Snyder | Thursday, May 23, 2019, Philadelphia Inquirer

Pennsylvania’s state university system and its faculty union have agreed on a voluntary retirement program that could help the cash-strapped system as it faces its ninth straight year of projected enrollment decline.

Nearly one-fifth of the union’s 5,150 full-time faculty members would be eligible under the plan, which allows faculty to retire in phases over a three-year period. Their workload and pay would be gradually reduced, while they maintain full benefits. Those who qualify generally must be at least 60 and have worked at least 15 years in the system.

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