University of Missouri buyout offer has 110 takers

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COLUMBIA, Mo. (AP) _ More than 100 faculty members at the University of Missouri’s flagship campus in Columbia are taking buyouts and retiring.

The Columbia Missourian (http://bit.ly/13nnMeG ) reports that more than 42 percent of eligible faculty members, or 110, were approved for the buyout. The majority of them won’t retire until August.

To qualify, faculty had to be retirement eligible and turn 62 by Aug, 31, 2015. They were eligible for a one-time payment of 1 1/2 times their base salary, not to exceed $200,000.

The program will free up about $17 million in budgeted salaries and benefits.

MU spokesman Christian Basi says some rehires will take place, but the number has not been finalized.