The University of Nebraska is giving around 400 aging teachers the option to retire early via a buyout.
Teachers who are at least 62 and have been employed with the university for a decade will have the opportunity to collect a lump payments equal to 80% of their yearly base salaries.
This isn’t the first time the University has offered buybacks to aging teachers.
Back in 2014, the university payed over $9-Million to 89 teachers.
The move is being promoted by Lincoln Chancellor Ronnie Green as a good retirement option for dedicated instructors as well as an effective cost saving measure for the university.