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 Timeline and Key Dates
VSIP Announcement to all employees via email and webpage
Employee education, consideration and review period. This period includes the 45-day review period required under the Age Discrimination in Employment Act (ADEA).
VSIP application deadline