September 20, 2021
One-time voluntary separation incentive program offered for tenured faculty
Submitted by President Richard Myers
We are pleased to announce a one-time voluntary separation incentive program, or VSIP, for eligible, tenured faculty. This targeted program creates an opportunity for tenured faculty who are nearing the end of their careers and may be in a position to retire. Funds made available from any faculty retirements will be shared with their colleges and strategically reinvested into salary merit pools by the university.
The VSIP offers a lump-sum cash payment the equivalent of a qualified person’s fiscal year 2022 budgeted base salary, or a combination of a cash payout and a health care bridge. If the health care bridge option is chosen, the salary payout will be reduced to cover the cost.
To be considered for the VSIP, a tenured faculty member must be at least 62 years old at the time of separation and have been at K-State for at least 10 years. Administrators who have tenured faculty status are also eligible if they meet the above requirements.
This program is made possible by one-time funding. Non-tenured faculty, unclassified professionals and university support staff are not eligible for this program.
Not all VSIP applicants may be selected for participation. K-State's mission and strategic goals are a key priority, and all VSIP applications will be weighed against the best interest of the university and college or unit. Selected individuals will be expected to complete instructional, research, service, and administrative activities through the end of the spring 2022 term. VSIP participants are also eligible to apply for emeritus status assuming eligibility criteria are met.
If you meet the eligibility requirements and are interested in applying, please complete the VSIP Notice of Interest Application Form, available behind K-State's secure single sign-on, and submit it to your respective dean or vice president. All applications will be submitted to Provost Taber for final approval. The application period for the VSIP begins on Sept. 20 and ends on Oct. 29. Applications submitted later than 5 p.m. CST on Oct. 29 will not be considered. Faculty will be notified by Nov. 19 if their application is approved. Due to the one-time nature of the funding, it is unlikely the university will offer a similar program in the near future.
Before applying, we encourage eligible faculty to review all the program information — including the frequently asked questions — to determine if they wish to apply for the VSIP. We also encourage faculty to visit with our HCS benefits staff and their retirement provider(s), tax advisors and/or other professionals who might provide information on the decision process.
If you have further questions about the VSIP, please reach out to firstname.lastname@example.org at Human Capital Services.
Richard B. Myers