New numbers were released Friday on voluntary separation plans for University of Idaho employees. A memo, released by President C. Scott Green, updated students, and staff on potential solutions to the projected $22 million deficit.
More than $14.5 million could be saved if employees go forward with voluntary separation plans, however according to the memo, not everyone who has expressed interest in the programs will go forward with leaving the university.
The university offered two voluntary separation incentives for staff to consider, earlier this semester. The Voluntary Separation Incentive Program (VSIP) was made available to employees who have at least 10 years of consecutive service without an already-approved resignation or retirement announcement. The other incentive offered, restricted to 55-year-olds or older, was the Optional Retirement Incentive Program (ORIP). The employee must have worked at least 20 consecutive years for the university and do not have an approved retirement plan.
Dec. 13 was the deadline for employees to express interest in the programs. As of Dec. 20, 91 people have shown interest in VSIP and 109 in ORIP. Though 200 employees have volunteered for the two programs, some positions will need to be refilled. “We also anticipate that not everyone expressing early interest in these programs will move forward with separation from the university,” Green said in the memo.
If employees choose to go through with VSIP, those who meet the requirements will receive 33% of their FY20 salary. Those who take the ORIP would receive 20% of their FY20 salary annually for the next five years.
John Webb can be reached at [email protected]