The University of Pittsburgh is offering a voluntary early retirement program for some non-unionized faculty and staff, the university announced Wednesday.
Eligible employees are nonrepresented faculty and staff with at least 10 continuous years of employment at Pitt and who are 57 years old or older, as of May 14, 2027. It will offer a one-time financial incentive of about six months pay, and immediate access to Pitt’s standard retirement benefits package, including health care and education benefits for spouses, domestic partners and dependents.
Pitt Provost Joseph McCarthy, Chief Financial Officer Dwayne Pinkney and James Gallaher Jr., vice chancellor for human resources, made the announcement to faculty and staff Wednesday. In the statement, they said higher education is facing “significant headwinds,” and Pitt is not immune.
“Expenses are growing faster than our revenue, requiring that we take action. By offering a voluntary option to responsibly reduce our workforce — and therefore our costs — we remain focused on supporting our students, faculty and staff, and delivering on strategic priorities through the Plan for Pitt,” the administrators said.
Nationwide, higher education institutions are facing a decreasing number of high school graduates, financial pressures and increasing public skepticism on the return of investment on a college degree.
Pitt will introduce similar proposals to its faculty and staff unions, the statement said.
Pitt last offered a voluntary early retirement incentive in 2020.