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States Luring Veteran Professors to Retire as Budget Cuts Loom

Darrell Fasching planned to keep teaching religious studies at the University of South Florida until he was offered a year’s salary of about $90,000 to retire and give up tenure rights earned over almost three decades at the school.

Fasching, 66, took the cash and left the Tampa campus Dec. 21, joining hundreds of professors at flagship universities from Illinois to Nebraska and Texas who have been coaxed into retirement with offers of as much as two years of pay to reduce operating costs.