2019 WVU VSIP PROGRAM
Learn about West Virginia University's 2019 Voluntary Separation Incentive Plan (VSIP) program for eligible faculty and staff.
As part of our continuing efforts to prioritize funding for investment in our most strategic initiatives, West Virginia University is launching a VSIP program for eligible faculty and staff.
Through the program, WVU may offer a lump-sum incentive payment to eligible faculty and staff, who in return would agree to separate from employment with the University either by resignation or retirement.
West Virginia University is working towards reducing its overall operating costs and prioritizing funding for investment in the University’s most strategic initiatives. In support of these efforts, WVU is launching a VSIP program for eligible faculty and staff.
The VSIP program is designed to provide our academic and business units the opportunity to adjust their workforces to offer more enhanced programming while also providing a cash incentive to eligible employees who may be thinking about retiring or leaving WVU to start a new career.
Based on the number of employees eligible to retire and the number of inquiries we have received, the University recognizes many faculty and staff may be considering retirement but are uncertain whether they can do so financially. The VSIP program offers these individuals greater flexibility with their retirement options while also providing a potential cost savings for WVU at the same time.
In general, the 2019 VSIP program is open to all faculty and staff across the WVU System who meet eligibility requirements *, which include:
- The employee currently holds a regular, benefits-eligible position at the University; and
- The employee has 20 or more years of benefits-eligible service (as of March 31, 2019).
Eligible employees will be provided two exit date options through the program:
- Dec. 31, 2019 (employees will receive a lump-sum incentive payment equal to 100% of their annual base salary for their primary assignment); or
- End of FY20 appointment or June 30, 2020, whichever comes first (employees will receive a lump-sum incentive payment equal to 50% of their annual base salary for their primary assignment).
Beginning April 22, 2019 , faculty and staff who meet eligibility requirements will receive an invitation via email to express their interest in the program. Eligible employees will have until Friday, May 10, 2019, at 5 p.m. to make their interest known.
University administrators will review each expression of interest individually. However, operational needs and available funds will determine whether an employee who expresses interest in the VSIP program will receive an official offer. Once the operational and financial review is complete, all eligible employees who expressed interest in the program will be notified in early fall whether they will receive an official offer.
* Note: The 2019 VSIP program is not open to WVU Research Corp. or WVU Innovation Corporation employees; however, the program is open to WVU Research Office State employees who meet eligibility requirements. Further, employees with established employment end dates will not be eligible to participate in the program. Established employment end dates are dates now or in the future that have been documented in writing on or before April 18, 2019. Examples include, but are not limited to employees who have submitted written documentation of their plans to resign or retire on a specific date; or employees who have received official notice from the University regarding plans to end their employment on a specific date.
April 22, 2019
2019 WVU VSIP program launches; interest period for eligible faculty and
May 10, 2019
Interest period for eligible faculty and staff closes.
|May 11, 2019, through early September 2019||
University administrators review expressions of interest and conduct an operational
and financial assessment.
|Late September through early October 2019||
Host Campus Conversations.
Deliver approved offers to faculty and staff.
|Early October through mid November 2019||45-day consideration period for faculty and staff who receive an offer.|
|Dec. 31, 2019||Employee exit date one.|
|End of faculty/staff member's FY20 appointment or June 30, 2020, whichever comes first||Employee exit date two.|