Plan reveals details of early retirement program at U. Iowa

IOWA CITY, Iowa (AP) - Some University of Iowa employees may be eligible for additional benefits in exchange for retiring early.

A plan released Tuesday says employees who are 57 and have 10 years experience will be eligible to apply for an early retirement program starting Feb. 6.

Those who are accepted would receive payments of unused vacation and sick leave, and five years of health and dental benefits. The university would make contributions to employees' retirement plans for five years, also covering the employees' share for the first three.

University Health Care employees would not be eligible for the program, which the Iowa Board of Regents is expected to consider approving next week.

UI President Sally Mason has said the program is designed to save money and soften the impact of restructuring on employees.