NICC Board approves early retirement plan as a way to hold the line on costs

Northeast Iowa Community College is joining a number of other Iowa educational organizations in crafting an early retirement incentive plan as a way of holding the line on costs.

NICC officials say their plan--which was approved Monday by the NICC Board--comes in an effort to offset the loss of revenue from no increase in state general aid in FY2016.

The NICC incentive plan will cover a three-year period from 2016 to 2018.  Those eligible must be at least 55 years old and have 10 years of full-time uninterrupted employment at NICC. The final date for eligible faculty and staff to retire is August 18th.

NICC officials say spreading the retirement window over three years provides the ability to plan for succession and ensures institutional stability during the retirement incentive plan.