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VSIP Glossary

The following are explanations for common terms related to the 2019 WVU VSIP program.  Email WVUSeparationIncentives@mail.wvu.edu  to suggest an addition.


  • Annual Base Salary – The faculty or staff member's base compensation for their primary assignment, established for the fiscal year. For more details on the various compensation elements and whether or not they are considered a part of base compensation, review BOG Faculty Rule 4.4 and  BOG Talent and Culture Rule 3.3. 


  • Established Employment End Dates – For the purposes of the 2019 VSIP 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.

 

  • Expression of Interest – Completion and submission of the 2019 VSIP individualized "invitation to express interest form," which will be sent by email to each eligible faculty or staff member with a selection of one of the two standard exit dates. Completing an expression of interest form does not guarantee an offer will be made. Further, if an offer is made, the faculty or staff member will have a 45-day consideration period in which they may choose to accept or reject the offer. If the offer is accepted, the faculty or staff member will have an additional seven-day revocation period after submitting their paperwork in which they may choose to cancel their VSIP contract.


  • Incentive Payment – The calculated amount that will be paid to an eligible employee who receives an official offer from the University and finalizes a VSIP separation agreement by established deadlines. The incentive payment is dependent upon the selected exit date:
    • Employees who separate from employment with the University through the VSIP program on Dec. 31, 2019, will receive a lump-sum payment equal to 100% of their annual base salary (as of July 1, 2019) for their primary assignment.
    • Employees who separate from WVU through the VSIP program at the end of their FY20 appointment (or June 30, 2020, whichever comes first) will receive a lump-sum payment equal to 50% of their annual base salary (as of July 1, 2019) for their primary assignment.

The incentive payment will be paid in a lump-sum after the employee’s exit date. The incentive payment will occur in the pay cycle following the last pay cycle in which all other wages are paid to the employee. Deductions will be made from the incentive payment for federal and state taxes and any other legally required deductions.


  • Separation Agreement – A written agreement between the WVU Board of Governors and the eligible employee that outlines the specific details regarding the requirements for the incentive payment and the employee’s exit from University employment either by resignation or retirement.

 

  • Years of Service – For the purposes of the 2019 VSIP program, the years of service calculation for each eligible faculty or staff member was determined by using the highest-calculated number of one of the following (as of March 31, 2019):
  • Annual leave years of service (combined State-eligible service);
  • Increment/longevity years of service (combined State-eligible service); or
  • Number of years since the start date of the employee’s PEIA basic life insurance.