Voluntary Separation or Retirement Program reopened

This message was sent to faculty on July 8, 2020.
 

Dear Colleagues, 

Since the Voluntary Separation or Retirement Program (VSRP) election period ended in spring semester, several faculty members have contacted me to inquire if they may still elect to participate. We have decided to reopen the window period for eligible employees—tenured faculty and administrators who hold tenured faculty rank, excluding the Heritage College of Osteopathic Medicine—to participate in the VSRP. This is a reopening of the same VSRP as the spring, not a new VSRP, so all aspects of the plan, including the faculty eligible to participate, must remain the same. Two additional deadlines for participation have been established:  

• July 31, 2020, for an exit date of August 15, 2020
• September 14, 2020, for an exit date of December 31, 2020 

University Human Resources will communicate the new deadlines directly to eligible faculty members via email today. The incentives for participation remain the same: 

• 100% of the eligible employee’s base rate of pay
• For an eligible employee enrolled in the university’s health insurance plan as of February 1, 2020, an additional payment of $20,000 will be provided to help defray the cost of purchasing external health insurance. 

If you are considering electing to participate in the VSRP and have additional questions, please contact Human Resources – Benefits Staff at benefits@ohio.edu or (740) 593-1636. 
 
Sincerely, 
Elizabeth Sayrs 
Executive Vice President and Provost