Voluntary Separation Incentive Program (VSIP)
Sent via UNLV Official on March 15, 2010
Dear UNLV Campus Community,
Today President Smatresk announced a second round of the Voluntary Separation Incentive Program (VSIP) for state classified employees and academic and administrative faculty. The VSIP is designed to provide a financial incentive for voluntary separation from employment that will facilitate the release of salary and benefit resources for budget reallocation or reduction in accordance with the University strategic plan and overall priorities. Specific information about the VSIP including the President's announcement, documents describing the program and application forms are posted on the Human Resources website.
The basic eligibility criteria for the program is the same as the last round of VSIPs:
Must be an active employee in a permanent, full-time, classified, tenure, tenure-track or professional staff position.
- Must have been employed at UNLV for at least 10 years as of May 7, 2010.
- Must be at least 60 years of age with at least 10 years of service to UNLV, or age plus years of service (minimum 10) at UNLV must total at least 75 as of May 7, 2010.
- The maximum benefit for taking the VSIP is 100% of the employee's FY10 base salary ( before any unpaid furlough or unpaid leave reductions), or $125,000, whichever is less. The separation date of the program is no later than June 30, 2010 with the benefit payout date no earlier than July 1, 2010. All individuals who meet the basic eligibility criteria listed above will receive hard-copy information that was mailed to their home addresses today. This information includes correspondence from President Smatresk, a copy of the complete VSIP program document, an application for the program, a specific estimated calculation of what the payout would be for the individual employee, and a sample copy of the agreement and release employees who elect to take the VSIP are required to sign.
Initial eligibility for the VSIP was based on information available to us at this point in time. We basically took a "snap-shot" of the current information available on all UNLV employees to make this first cut at eligibility. However, this information did not take into consideration any individual transactions that may be in process for any of the people sent information in the mail. As a result, it is possible that some people receiving the information may not be eligible, and others who were not mailed the information may be eligible. You are invited to visit the website listed above and review the specific information to see if you may be eligible to take advantage of the VSIP. If you believe you meet the eligibility requirements but do not receive information in the mail, please contact Pat La Putt, Benefits Manager, in the Human Resources Office at 702-895-3958. Applications must be received in the HR Office no later that the close of business at 5:00 PM on Friday, May 7, 2010 in order to be considered for the VSIP.
We also want to let you know that information/training sessions on the VSIP are scheduled in the Student Union for Wednesday and Thursday, March 24 & 25; and in the HR Training Room, 212G in the Campus Services Building, on Thursday and Friday, April 1 & 2. If you are eligible to participate in the VSIP, or you supervise someone who is, you are invited to attend one of these sessions to find out more about the program and to have your questions answered.
Bud H. Pierce MBA, SPHR
Associate Vice President for Human Resources
University of Nevada Las Vegas
4505 South Maryland Parkway, Box 451026
Las Vegas, Nevada 89154-1026
702.895.1043 • Fax 702.895.1545