AB institutions look to retirement packages to decrease long-term costs

July 18, 2016

Alberta’s postsecondary institutions paid more $12M to retiring employees in 2015 in an effort to lower long-term costs, reports the Edmonton Journal. Among the highest paying institutions was the University of Lethbridge, which paid $2.3M to 18 former employees. The university’s Vice-President of Finance and Administration Nancy Walker explains that the “vast majority” of these severances are the product of early retirement programs, which cover one-time severance costs while achieving “an annual continuing budget reduction of approximately $3M per year.” The Journal article concludes with a list of the 10 AB schools paying the highest amounts of severance. Edmonton Journal