Western Michigan University launches buyout program to ease budget

Western Michigan University in Kalamazoo, Mich. The public institution is offering early retirement packages for some tenured faculty to address budgetary challenges.

Western Michigan University launches buyout program to ease budget. Western Michigan University in Kalamazoo, Mich. The public institution is offering early retirement packages for some tenured faculty to address budgetary challenges. In September, tenured faculty members aged 60 or over will be able to apply for the buyout program if they have worked full time at WMU for at least a decade. The terms of the program are contingent on enough professors signing up to save the university at least $5 million. The buyout program will allow WMU’s academic units “ to be proactive in addressing budgetary and/or ongoing workforce challenges ,” the public university said in a pamphlet for faculty. If a faculty member's application is accepted, the buyout would pay out 50% to 100% of their salary for fiscal 2027, depending on how long they had worked...