GOSHEN – SUNY Orange is
hoping to close a projected $1.6 million budget deficit by offering a
one-time voluntary retirement incentive for eligible faculty members.
The board of trustees has set aside $1 million to cover the cost.
The county legislature must approve the plan and Personnel Committee Chairman John Vero said it has been okayed by his committee.
“Even though 39 may be eligible for that, it will probably only apply to maybe 12 or 13, roughly one-third of the possible ones will be able to take advantage of it,” Vero said. “It’s a step in the right direction. I like the fact that they can make up the difference in less than two years; cost effective it seems to be, and not a whole different than what we did at the county level.”
The one-time incentive will range from 42 percent of the 2017 base salary for faculty with 20 to 24.99 years of service to 75 percent of base salary for faculty with 30 or more years of service.
