As WSU confronts COVID-19 budget, it offers early retirement to some faculty, staff
Eligible employees at Wichita State University can take an early retirement offer as university leaders seek to save money during the coronavirus pandemic.
The university announced the program, dubbed the 2020 Voluntary Separation Incentive Program for Retirement, on Friday. If approved for the offer, the employees would retire from WSU on Dec. 26.
“While these decisions are not ones we have taken lightly, this voluntary program is an effort to provide employees an opportunity to fast track their retirement while providing university leaders budget flexibility,” read a memo to faculty and staff from Jay Golden, university president, and Rick Muma, executive vice president and provost.
Employees must apply to the early retirement program, meet eligibility criteria and be selected by the university. They will receive a sum equal to their fiscal year 2021 annual base salary, minus required payroll deductions, according to the memo from Golden and Muma. They will also be eligible for benefits WSU provides to retirees.
Participating employees will not be rehired for one year, until after Dec. 26, 2021. If they are rehired, it cannot be into the same position with the same job responsibilities or title.
“The university intends to approve as many applications as possible, but financial and programmatic constraints may apply,” the memo reads. “Each application will be considered individually, however, in all cases the decisions will prioritize the university’s financial and strategic needs.”
Due to limited campus activity this fall and lost revenue when campus shut down in the spring, the university is projecting a budget shortfall of about $6.8 million for this fiscal year. The Kansas Board of Regents previously approved a 2% tuition increase at WSU for the coming academic year.
Employees who are eligible for the early retirement program include those who:
- Are WSU faculty and staff who are active participants in the KBOR Mandatory Retirement Plan, the KPERS Retirement Plan or the KP&F Retirement Plan
Are 62 years of age or older at the retirement date
Have completed at least 10 years of consecutive or nonconsecutive service in a benefits-eligible position at WSU or a state agency at the retirement date
Are not otherwise ineligible
Some WSU employees will not be eligible, including those who are already in a phased retirement agreement or are scheduled to begin one. Employees are also ineligible if they have already announced their intent to retire, are on approved long-term disability or have been approved for a partial or full-year sabbatical leave beginning this semester.
If a department wants to fill a position vacated through the early retirement program, it can request central funding, but departments are encouraged to keep the positions vacant for a sufficient period of time.
Faculty or staff may not be approved “if that departure would significantly weaken WSU’s work in an academic or research area, program accreditation, or strategic goals,” according to the university.
“Any approvals to participate in the VSIP must result in a benefit to the WSU community, such as a significant cost savings as determined by their college, department and/or campus administration,” the university detailed in its program guidelines. “Therefore, not every eligible employee’s application to participate in the VSIP will necessarily be approved.”
The deadline to apply is 5 p.m. Oct. 5. Those who are interested must complete a notice of interest form, which can be found online at www.wichita.edu/services/humanresources/VSIP/interest.php.
Employees will be notified by Oct. 14 if their application is approved.
More information, including a program overview and a list of frequently asked questions, is available online at www.wichita.edu/services/humanresources/VSIP/index.php. You can also email questions to vsip2020@wsu.edu.
The university does not expect to offer the early retirement program in the future, as it is designed to address budget challenges related to the COVID-19 pandemic.
