The early retirement package was offered to employees as part of VUMC’s plan to save $100 million in its new fiscal year and an additional $150 million in the following fiscal year. The retirement option was announced July 26, according to the report.
Employees 62 years old or older who had been with Vanderbilt for 10 years or more were eligible for early retirement. Those who accepted the package will receive six months’ salary, 30 days of earned, unused leave and a one-time payment of $2,500 to cover six months of health insurance, according to The Tennessean.
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