A dozen tenured University of Northern Iowa faculty members have signed up for buyout incentives or phased retirements, saving the school about $1.3 million as it seeks to reduce spending, officials said.
University administrators have argued the reductions are needed because the school's budget is in dire shape, forcing the closure of the Malcolm Price Laboratory School and the ending of dozens of majors, minors and graduate programs.
The Gazette of Cedar Rapids reported Friday that seven faculty members agreed to the early separation incentive plan and five opted for a phased two-year retirement option.
"We're coming close to that savings target we hoped to achieve," said Associate Provost for Faculty Affairs Virginia Arthur. "We're hoping by next week we'll have a sense of if we're going to do layoffs, where they're going to be needed or if they're going to be needed."