The UI has already seen a 50 percent increase in retirements so far this calendar year compared to last, President Bob Easter told university trustees Thursday.
Since January, more than 1,100 university employees have retired, Easter said at the UI Board of Trustees meeting at UIC. By comparison, 726 employees retired the entire calendar year of 2011, he added.
Retirements also increased significantly this month, Easter said. Ninety-one employees retired in July 2009; almost 550 faculty and staff members are retiring in July 2012.
"There are very significant changes occurring within our workforce that will cause us to miss people in their capacities," Easter said.
Uncertainty over changes to the state pension system has likely been a factor in the rise in retirements, Easter said. The General Assembly's spring session ended May 31 without a decision on pension changes for state employees.
The university's state appropriation for fiscal year 2013 was cut by about $42.5 million - a 6 percent decrease - Easter said, resulting in a total appropriation of $612 million for this fiscal year.
"That reduction had been anticipated and planned for," he said.
The state still owes the university $207 million for fiscal year 2012, which ended June 30. The state comptroller's office has said it expects to pay the balance by November, said Walter Knorr, university vice president and chief financial officer.
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