Buyouts and early retirements save UNI $1.3 million - KWWL - Eastern Iowa Breaking News, Weather, Closings

Buyouts and early retirements save UNI $1.3 million

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CEDAR FALLS (KWWL) -

The move to offer early retirement and buyout incentives to UNI faculty has saved the university more than a million dollars.

According to university officials seven faculty members have agreed to the early separation incentive plan and five faculty members took the phased two-year retirement option.

In total, the departure of the 12 faculty members will save UNI $1.3 million.

This was part of the university's restructuring plan, which will close Price Lab School and cut several programs.

University officials also say they appreciate the more than eight percent increase in their proposed budget from the state legislature.

"We're certainly from an overall budget perspective, we're certainly grateful the legislature recognizes the need for UNI to have some additional funding. I think we feel we're in a steady place with the state appropriations that we've received so now we just need to move forward," said university spokesperson, Stacy Christensen.

It is still being decided what the university will do with the savings. University officials say they are still waiting to find out what their official upcoming budget will be, once the governor signs off on it.

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