Credit: Wikimedia Commons The university is working to close a budget shortfall. Credit: Wikimedia Commons

Brandeis University is offering buyouts to more than 100 staff members to help close a budget deficit.

The Waltham-based liberal arts and research institution is offering voluntary early retirement buyouts to about 150 employees to address a $6.5 million budget shortfall, according to the Globe.

Brandeis employs about 1,150 staff members.

 

The buyouts apply to staff members 60 years or older and with at least 10 years of service as of April 1. Those who take the buyout will receive a year's severance at their regular base pay plus $15,000. The buyouts do not apply to faculty members.

As of 2011, Brandeis had more than 3,500 full-time undergraduate students. As of the last academic year, tuition and room and board cost more than $56,000 annually.

Follow Michael Naughton on Twitter @metrobosmike.

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