A record number of University of Akron faculty and administrators are retiring ahead of new state pension rules that take effect July 1st.
The Beacon Journal reports 55 members of the faculty and administrators with faculty status are calling it quits before changes take effect that will make employees pay a higher share of their pension and wait longer for cost-of-living adjustments.
2 more, Provost Mike Sherman and Acting Assistant Dean of the College of Arts Richard Stratton, will retire and be rehired in what some call "double dipping."
Sherman will see his pay cut from $291,600 to $250,000, but he will also collect a pension.
UA President Luis Proenza tells The Beacon Journal it doesn't look like the uptick in retirements is happening statewide.
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