Staff Voluntary Buyout Program
The Spring 2013 Voluntary Buyout Program has been established to assist the University in addressing budgetary constraints due to state appropriation reversions and potential budget reductions in the forthcoming fiscal years. The VBP will also provide a unique opportunity to adjust the University's financial and human resources to meet the University's strategic plan goals and state mandates for recruiting, retention, and growth of the University.
The VBP is designed to provide Eligible Employees who voluntarily elect to separate employment with the University with Severance Pay and Severance Benefits as described in this Program Document. The VBP is being implemented at the direction of the President. A Strategic Budget Reallocation Task Force was appointed and is responsible for drafting and recommending the VBP to the President.
Eligible Employees must apply and be approved for participation in the VBP. The Executive Director of Human Resources will be the VBP Administrator. The VBP document below shall serve as the Program Document governing the terms of the VBP, including eligibility and benefits to be paid. This document will serve as a reference for the information concerning any rights and obligations employees may have under the VBP.