UM early retirement plan will take several months to develop - KPAX.com | Continuous News | Missoula & Western Montana

UM early retirement plan will take several months to develop

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University of Montana campus in Missoula (MTN News photo) University of Montana campus in Missoula (MTN News photo)

Leaders of the Montana University System say it will be several months before they're ready with details of a plan to University of Montana costs by offering early retirements.

UM leaders said earlier this week that they were surveying faculty, staff and administrators to identify upwards of 80-to-100 people who might be eligible for early retirement.

The idea is to offer retirement packages to bring numbers more in line with current enrollment, but there are still many details to be worked out…

"If we could get the program rolled out so people could have information and make their choices during the 2017-18 academic year that would put them in a position then to make their choices by the end of that year," Montana University System spokesman Kevin McRae said.

He added that the departures would happen over a period of time for the 2018-19 academic year. 

With as much as 80-percent of UM's operating costs tied up in personnel, the state hopes to trim that ratio closer to 70-percent, saving money while allowing younger employees to advance their careers…

"It would be a win for the person who chooses to retire because they have been presented an opportunity to receive something of value to voluntarily retire," McRae said. "It's a win for the person who is secured and retained to be able to spend the remainder of their career with the university. And it's a win for the university from a fiscal standpoint." 

The retirement program could cost up to $2-million  but state officials believe they've been able to find those funds by deferring some emergency dispatch upgrades. 

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