2021 Voluntary Separation Incentive Program (VSIP)
Due to the financial impact of the COVID-19 pandemic and the reduction in budgets of the University, in order to plan for future budget years, the University is offering a VSIP program. This voluntary program is applicable to both faculty and staff. Employees are not guaranteed approval to participate in this plan and the program is not an entitlement. To be considered and approved, such voluntary separations must support the financial goals and/or create financially strategic opportunities for the University, division and department. Application approval will be based on mutual interest of the individual and the institution. Employees must agree to a separation date, mutually agreeable to the University, that is on or before June 30, 2022.
- All salaried WSU staff and all tenured and tenure track faculty with two or more years of service as of August 16, 2021 are eligible to apply. This does not include probationary, temporary, hourly employees, individuals who have already submitted their written resignation or retirement, individuals with a year to year or other term contract, and those who have received notice of involuntary separation for other reasons permitted by policy.
Benefits (Age on 6/30/2022)
- Employees under the age of 65 separating under this program are offered a one-time separation incentive equal to 33 percent of their FY22 annual base salary, but no less than $20,000 (pro-rated for employees who are less than full-time).
- If individuals are also interested in the early retirement program (PPM 3-41), they must submit a separate application. These incentives are available to salaried employees who apply for the program, meet the eligibility requirements, and receive approval from the Board of Trustees. Individuals under the age of 60, who intend to take advantage of the early retirement program and who would have a one-year gap in healthcare coverage due to their age at the time of initial enrollment, may have the option to choose (1) the 33% of their FY22 annual base salary (described above); (2) a University paid medical and dental insurance "bridge" which begins on the last day of early retirement and ends at age 65; or (3) a combination of the two options not to exceed 33% of their FY22 annual base salary.
65 and Older
- Employees 65 or older are offered a one-time separation incentive equal to 50 percent of their FY22 annual base salary, but no less than $20,000 (pro-rated for employees who are less than full-time), not to exceed $75,000. Individuals in this category are waiving eligibility for early retirement benefits under PPM 3-41 so as to not double dip on benefits.
- Employees who are currently enrolled in health benefits will also be eligible for COBRA benefits upon separation as allowed by federal law.
- Employees who are approved to participate in this VSIP will be required to sign a voluntary separation agreement including a release of all claims with the University, which is available for review here. Once employees are notified that their application has been approved, they will have up to 7 additional days to consider the release.
- Approved participants will need to comply with any taxes or legal requirements regarding withholdings. Any conditions or terms specified under University policy regarding any termination benefits, such as vacation leave balance, will be paid according to current institutional policy/practice.
- To apply for the program, please complete an application at: https://weber.co1.qualtrics.com/jfe/form/SV_8jhlAnBE8DAEzyd
- For questions, please reach out to Jessica Oyler (firstname.lastname@example.org), Tracy Schiermeyer (email@example.com), Bethany Rasmussen (firstname.lastname@example.org), or email@example.com.
- Individuals have 45 days from today, August 16, 2021 to consider the program details and submit their decision. Applications are due by October 1, 2021.