MADISON, Wis. (AP) - The University of Wisconsin-Milwaukee is the latest UW school to offer employee buyouts to help absorb massive cuts Gov. Scott Walker has proposed for the system.
UW-Milwaukee officials announced the plan Monday. Under the voluntary program, any employee vested in the state retirement system who would qualify for a full annuity as of July 1 would get a one-time payment equal to half their base salary to leave their jobs. About 300 of the school’s 4,500 employees could qualify.
Four other UW schools - Oshkosh, Green Bay, Eau Claire and Superior - announced buyout plans last month.
The plans come as campuses are grappling with Walker’s budget plan to cut $300 million from the UW System. UW-Milwaukee officials estimate their share of the cut will be about $40 million.
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