Salem State University Offers Voluntary Retirement Incentives

Salem MA

12 February, 2021

5:27 PM

Description

SALEM, MA — Salem State University is looking to reduce staff amid declining enrollments and a structural deficit through a voluntary retirement program. The university said it worked with unions representing educational and operational staff as a way to offer the programs as "another way to reduce growing compensation costs." "The retirement incentive builds on efforts in recent years to find as much vacancy savings through voluntary means as possible," Salem State President John Keenan said. This is the school's second retirement initiative in three years. A 2019 "voluntary separation incentive program" included 22 faculty members and 60 staff and administrators. "While it was difficult to bid farewell to these colleagues," Keenan said, "doing so was crucial in our efforts to align Salem State's workforce with the size of our student body now and in the future." Salem State recently said it will freeze tuition and fees for all students through the Spring 2022 semester as a way to help students finish their degrees amid the coronavirus health crisis. The school said this round of incentives will be available to up to 50 faculty and librarians and up to 35 non-faculty members. It allows for those with more than 20 years of state university of service to receive a lump-sum payment of $25,000. "Although one-time funds and savings have helped us end (Fiscal Year 2021) with a surplus, our structural deficit remains," Keenan said. "To continue thriving we must address this structural imbalance. "I'm hopeful that this program will be an effective way to help control costs at a time of change for higher education and our institution while serving as a positive opportunity for members of our community." Did you find this article useful? Invite a friend to subscribe to Patch. (Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at [email protected]. Twitter: @Scott_Souza.)