ADOPTION OF 18/20 FINANCING PLAN
(Approved: Trustees 10/30/98)
WHEREAS, the Trustees of Indiana University and President Myles Brand reviewed the future funding requirements for the University's early retirement programs including the 18/20 program; and,
WHEREAS, current projections show a significant financial obligation for Indiana University over the next several decades; and,
WHEREAS, the Trustees and the President reaffirmed their commitment to preserving the integrity of the 18/20 program in its current form and to continue the IU Supplement Early Retirement Program for those currently eligible; and
WHEREAS, it is recognized that funding sources must be identified to ensure that the early retirement funding obligation can be met without significantly eroding the capacity to make progress on other institutional priorities; and,
WHEREAS, President Brand appointed the 18/20 Financing Committee to explore various options for reducing the financial burden without making any changes to the 18/20 program; and,
WHEREAS, the Committee has completed its work and has submitted a recommendation to President Brand who now presents the recommendation to the Board of Trustees for its consideration.
NOW, THEREFORE, BE IT RESOLVED, The Trustees of Indiana University approve the recommendation of the 18/20 Financing Committee dated September, 1998, and request that implementation of the recommendation proceed as soon as possible. It is further requested that the impact of this recommendation be monitored regularly to determine if the desired financial reallocations and savings are producing the desired outcomes.