On January 17, 2020 the Ohio University Board of Trustees approved a resolution authorizing the University to establish and implement a Voluntary Separation or Retirement Program (VSRP) for certain tenured professors, tenured associate professors, and administrative staff with the academic rank of tenured professor or tenured associate professor. (Please see official plan documents for full eligibility rules).
This web page contains summary information regarding the plan. If there is any discrepancy between summary information and the official plan, the official plan documents will govern.
Packets were emailed to eligible faculty members on February 5, 2020. Information is also available online as follows:
- Cover Memo [PDF]
- February Meeting Dates [PDF]
- Frequently Asked Questions [PDF]
- Summary of the Ohio University 2020 Voluntary Separation or Retirement Program* [PDF]
*This document includes the forms required to participate in the plan.
Eligibility: The program is being offered to:
- Tenured professors
- Tenured associate professors
- Administrative staff with the academic rank of tenured professor or tenured associate professor
- Please note faculty and staff of the Heritage College of Osteopathic Medicine are not eligible for the program. See plan details for full eligibility rules.
There are two ways participants can separate employment with the university under the program.
- Individuals eligible to retire can separate employment via a retirement separation.
- Individuals not eligible to retire can separate employment through a voluntary separation.
To participate in the program as a retiree, the employee must have 5 years of service with the university and reach one of the following parameters:
- Age >= 55 and years service >= 25
- Age >= 60 with years service >=5
- Any age with years of service >=30
Faculty VSRP Incentive Benefit
- Faculty and staff electing to participate in the program as a retiree or voluntary separation will receive a payment of 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.
Please see the official plan documents for details regarding the incentive benefit payment schedule, information regarding educational benefits, sick leave payouts, limits regarding re-employment including waiving rights to the faculty early retirement program, and other important plan details.
- February 5, 2020 is the first day that individuals can indicate their interest to participate in the ERIP.
- Paperwork to declare intention to participate must be submitted to Human Resources by 5pm March 20, 2020 or post-marked by March 21, 2020 if mailed.
- Separation or retirement date is May 31, 2020.
- The base pay incentive benefit will be paid in four equal payments on the final payroll processed in July 2020, December 2020, July 2021 and December 2021.
- The additional $20,000 health insurance payment, if applicable, will be made in full in the final payroll processed in July 2020.
- Faculty who are eligible to retire and have 10 or more years of service will also receive the retirement sick leave pay out in the June 15, 2020 pay period or as soon as feasible thereafter.
- February Meeting Dates [PDF]