University to offer Voluntary Separation Incentive Program to faculty

University

October 16, 2019

Lincoln, Neb. — Eligible University of Nebraska faculty will have the opportunity to choose early retirement under a Voluntary Separation Incentive Program being offered this fall.

Through the program, tenured faculty who are 62 or older with at least 10 years of service to the University of Nebraska system will be able to retire and receive a lump-sum payment equivalent to 80 percent of their base salary. Approximately 400 faculty at the University of Nebraska–Lincoln, University of Nebraska at Omaha and University of Nebraska at Kearney are eligible to participate in the program.

“We believe providing a flexible retirement option to our most senior faculty, who have collectively given many decades of service to the university and contributed enormously to our upward trajectory, is the right thing to do,” said Chancellor Ronnie Green in an Oct. 14 letter announcing the program to faculty.

“Based on past experience, we know a number of faculty may be considering retirement, and the VSIP gives those faculty an attractive option while also creating flexibility in the university’s budget to reinvest in priorities or plan for future uncertainty.”

The university is accepting VSIP applications until Dec. 3. The Office of the Executive Vice Chancellor will notify faculty of application acceptance by Dec. 16. Applications and details are available online.

Another option that is available to faculty members who are 55 years of age with 10 years of service at the University of Nebraska is to request consideration for a phased retirement. Faculty members in the Institute of Agriculture and Natural Resources can initiate this process by completing and signing this form, and submitting it to the unit head.

If you have questions, please contact Ron Yoder at ryoder2@unl.edu or 402-472-2871.