500 take early retirement at Indiana University

From The Indianapolis Star: Indiana University says nearly 500 employees have agreed to take part in an early retirement program expected to save the university $6 million a year. The Early Retirement Incentive Plan offered qualified faculty and staff a lump sum payment worth up to 10 months of salary and deferred compensation for health care costs if they retired early. Of about 2,500 eligible employees, 572 people applied for the program and 495 employees were approved for early retirement.