Forty-one full-time faculty at the University of Akron elected to take a voluntary early retirement or buyout package, the university announced Monday.

That represents about 12 percent of the 336 faculty members who were eligible to participate in the voluntary separation program.

About 46 percent of UA's full-time faculty was eligible to participate.

UA spokesman Wayne Hill said the university expected about 15 percent of those eligible would elect to take a buyout, and that 12 percent was "in keeping with that estimate."

The university did not have a target number that had to be hit in order to avoid other financial implications, he said.

Fifteen of the 41 faculty members took a buyout and 26 took an early retirement.

The 41 faculty are paid about $3.7 million in base salaries, Hill said, with another roughly $1 million in benefits costs. But the university won't see an immediate savings.

Faculty members who elected to take the buyout will be employed through the end of the 2019-20 school year and will be paid for a year after that.

The number of faculty taking the buyout from each department was not yet available. A representative from the University of Akron chapter of the American Association of University Professors did not immediately return a phone call and email seeking comment Monday afternoon.

A news release from the university said the timetable will give deans and heads of departments time to "plan for the future."

"The deans are being provided the results for their respective colleges so they can begin their planning process," the release said.

Only faculty members who were not in “areas of strategic investment” were eligible.

Faculty members who were not eligible included those in the law school, the College of Polymer Science and Engineering, and the College of Engineering as well as those in chemistry, dance, theater, finance and nursing programs.

Some departing faculty may also need to be replaced, depending on the necessity of those positions, Hill said.

"Now that we know who has elected to participate, then determinations can be made by the deans and the chairs and the school directors, along with the administration, in terms of what type of replacements might be needed," Hill said.

More information will be given at the board of trustees meeting on Wednesday, he said.

 

Contact reporter Jennifer Pignolet at jpignolet@thebeaconjournal.com, at 330-996-3216 or on Twitter @JenPignolet.