Facebook Pixel Voluntary Separation Incentive Program (VSIP) | Western Kentucky University Skip to main content
Voluntary Separation Incentive Program

Voluntary Separation Incentive Program (VSIP)


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. 

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.

 

Human Resouces will conduct informational sessions by department/college to fully explain details of the VSIP.  

 

VSIP Plan Document

 

 

VSIP Overview

Learn More 

 

FAQs

Learn More  

 

Payment Calculator

Learn More 

 

Benefits Information

Learn More

 

 

Application for Participation

Apply Now 

 

Application Withdrawal Form

Learn More

 

Waiver and General Release - Sample

Learn More 

 

Revocation Agreement Form

Coming Soon

 

 

Questions?

If you have questions about the Volunteer Separation Incentive Program, please review the Frequently Asked Questions, email vsip@wku.edu, or call the Department of Human Reources at 270-745-8787.

FAQs

 

 

 VSIP Timeline and Key Dates

January 13, 2021

VSIP Announcement to all employees via email and webpage

January 14, 2021 - March 15, 2021

Employee education, consideration and review period. This period includes the 45-day review period required under the Age Discrimination in Employment Act (ADEA).

March 15, 2021, 4:00 p.m. CT

VSIP application deadline

March 18, 2021
Employees notified of approval or disapproval into the VSIP; if approved, employees are sent the VSIP Voluntary Separation Waiver and Release Agreement Form (via WKU email)

March 29, 2021
Signed and notarized VSIP Voluntary Separation Waiver and Release Agreement Form due from employee participants

April 6, 2021, 4:00 p.m. CT
Deadline for withdrawal and revocation from VSIP participation

June 30, 2021
Date of separation from employment at WKU

July 30, 2021
Date VSIP incentive and benefits paid to participants

January 31, 2022
Date of second payment for participants who elect VSIP incentive and benefits paid in two equal amounts.

 

 


Some of the links on this page may require additional software to view.

 Last Modified 1/28/21