Brown offers early retirement to some

PROVIDENCE - Brown University is offering some non-faculty employees an early retirement package as it tries to reduce a projected $30 million deficit for the academic year that starts next fall.

The voluntary program announced Wednesday includes a lump-sum payment equal to one year’s base pay plus $15,000 to assist employees with their transition to retirement.

Employees will also have the option of continuing enrollment in the Ivy League school’s health insurance plan until age 65 if they pay the full premium.

To be eligible, employees must be at least 60 years old by June 30 and have worked continuously at Brown for at least 10 years.

The university says about 260 employees are eligible for the offer.