State universities luring faculty to retirement as a cost-cutting measure

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Penn State

HARRISBURG, Pa. (AP) — The 14 Pennsylvania state universities hope to reduce the size of their faculties by offering an incentive for professors eligible for retirement.

PennLive reports that the State System of Higher Education's governing board on Thursday approved the plan to align staffing with the decrease in student enrollment.

The incentive increases the maximum number of unused sick days retirees can be paid out for to 125. Previously the maximum was 50 days.

However, 200 faculty members have to sign up in order to make this plan cost-effective. 

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