U of L looking into how many employees would take part in buyout - WDRB 41 Louisville News

U of L looking into how many employees would take part in buyout program

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LOUISVILLE, KY. (WDRB) -- The University of Louisville wants to know how many of its employees would take advantage of what it calls a Voluntary Separation Incentive Program.

The university is not yet offering the plan; it wants to see how many faculty and staff would be interested in taking part.  It also calls this a "one-time opportunity," and does not expect to offer such an incentive plan again. 

It's asking employees to look at whether they qualify and whether they are interested.  If so, they're asked to indicate that by going to www.louisville.edu/hr/VSIP.  They're asked to do so by March 15.

Eligibility includes a minimum of seven years of service and any combination of years of service and age that totals at least 75.  Employees have to be in active employment status as of May 1 and hold a continuing appointment without a termination date. 

Board-appointed administrators and staff would receive six months of their annual base salary.  Tenured faculty would receive 12 months.

They would also receive regular retirement benefits.

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