Voluntary Separation Incentive Program
- Wednesday, January 13th, 2021
Dear Faculty and Staff:
WKU is implementing a Voluntary Separation Incentive Program (VSIP) as an employee-centered strategy for making appropriate workforce adjustments and creating opportunities for organizational renewal and invention.
The VSIP offers eligible faculty and staff the opportunity to separate/retire from employment effective June 30, 2021, and receive a lump-sum compensation incentive equal to annualized base salary, up to $100,000.
This incentive program is available to employees who meet the following criteria:
- actively employed and currently hold a full-time Education and General (E&G) funded position; and
- completed 15 years of full-time, benefits-eligible service at WKU as of June 30, 2021; and
- the sum of the employee’s age and total years of full-time service equals 70 or more (as of June 30, 2021).
The VSIP also provides for a benefit supplement to assist with the purchase of health insurance for individuals who are under age 65.
The intention is to allow as many eligible faculty and staff who wish to participate in the VSIP to be able to do so, resulting in a reduction of the salary base resources which comprise a significant part of the operating budget. While meeting institutional financial objectives, the VSIP has been designed to materially benefit eligible participants who may wish to attain retirement status, seek other professional opportunities or otherwise cease employment with WKU.
The VSIP focus is on budgeted (E&G) positions and is being offered as a one-time managerial action of the institution. The University does not anticipate similar action in the future.
This institutional initiative is appropriate given the changing organizational operating environment resulting from the COVID-19 pandemic, declining state support, enrollment changes and other evolving dynamics affecting higher education in general. WKU remains committed to protecting, preserving and achieving the University’s mission, enhanced focus on student success and objectives outlined in the WKU Strategic Plan.
Eligible employees are invited to consider the VSIP and to file the application for participation. The application period will begin January 14 and will continue through March 15, 2021 (4:00 pm). Each application will be reviewed individually to confirm VSIP participation eligibility. The University reserves the right to accept or reject participants based on the needs of the institution.
Detailed information concerning the VSIP is available at wku.edu/vsip and includes the official program document, the overview presentation used in meetings with shared governance groups, and other resources. Additionally, Human Resources will be conducting informational sessions by department/college to fully explain details of VSIP. In the meantime, questions concerning the VSIP may be directed to email@example.com or 270-745-8787.
Executive Vice President, Division of Strategy, Operations and Finance
Provost and Vice President for Academic Affairs