2020 VSIP Program
The University of Kansas continues to face economic challenges as a result of the disruption caused by COVID-19. As one of several cost-savings measures being considered, the university is authorizing an accelerated retirement program for eligible employees on the Lawrence and Edwards campuses. Beginning June 8, 2020, the 2020 Voluntary Separation Incentive Program (VSIP) will be offered to faculty and staff who meet specific retirement eligibility requirements. The VSIP is designed to provide eligible KU employees who voluntarily elect, and are approved, to separate employment (retire) from KU on December 31, 2020, with the separation benefits described more fully on this website. The VSIP not only provides qualifying staff and faculty retirement incentives, but provides a mechanism to help the university plan and forecast its continued capacity to provide high-quality educational experiences and exceptional research on our Lawrence and Edwards campuses not just in this moment, but long into the future.
KU staff and faculty who are active participants in the Kansas Board of Regents 403(b) mandatory retirement plan who will be at least 62 years old AND have worked at least 10 years in a benefits-eligible position with KU/State of Kansas agency at the time of separation will be able to apply for consideration in this incentive program unless otherwise ineligible. KU staff members who are active participants in KPERS who have 85 points under KPERS (or be at least 62 years old and meet KPERS retirement eligibility; or in Tiers 2 and 3, age 65 with 5 KPERS years) and have worked at least 10 years in a benefits-eligible position with KU/State of Kansas agency at the time of separation will be able to apply for consideration in this incentive program unless otherwise ineligible.
Apply for the Program:
The application – a completed Notice of Interest form available online – is due by 5 p.m., Friday. July 10, 2020. University administrators intend to approve as many applications as possible, but financial and programmatic constraints may apply. Each application will be considered individually, however, in all cases the decisions will prioritize the university’s financial and strategic needs.
The 2020 VSIP program is an important step in guiding the university toward financial well-being, but is not the only measure that may be taken. Participants may still be subject to other cost-saving measures. These measures, if taken, will not affect the incentive payout of those approved to participate. This program should not be viewed as a reward for employees who’ve been at the university for several years, but in fact is an opportunity for the university to address significant financial constraints while also enacting cost-savings measures that result in a more fiscally strong institution.
Some employees are not eligible to participate, including those who are:
- on approved long-term disability,
- on an active phased-retirement agreement or scheduled to begin phased retirement,
- in positions funded entirely through grants,
- retirees who have been rehired,
- and more.