The University of Texas at Arlington

Voluntary Separation Incentive Program for Faculty

FREQUENTLY ASKED QUESTIONS

Who is eligible to participate in the Voluntary Separation Incentive Program?

Participation in the Voluntary Separation Incentive Program is limited to Tenured and Tenure Track Faculty. To be eligible for the program an employee must meet all of the following requirements:

1. Have a combination of age and service with the State of Texas totaling 85 with at least 5 years of state service credit as of May 31, 2011;
2. Serve in a tenured or tenure track faculty position with an assignment of 100% as of March 28, 2011;
3. Not be in any of the following category of employees that are excluded. The following employees are excluded from participation in the Voluntary Separation Incentive Program:
   1. Employees who have titles of dean, associate dean and assistant dean;
   2. Employees who were awarded Faculty Development Leave (FDL) during 2009-2010 or are on FDL this current year;
   3. Employees who have previously retired from any State of Texas retirement program;
   4. Employees who have entered into an agreement with a predetermined employment end date prior to March 28, 2011;
   5. Any employee who has received notice of termination, notice of intent to terminate, notice of non-renewal or cancellation of their employment;
4. You must resign your employment effective May 31, 2011;
5. Must return the signed Voluntary Separation Agreement no later than 5:00 p.m. on May 11, 2011.
   
   IMPORTANT NOTE: Eligibility to participate in the Voluntary Separation Incentive Program does not necessarily mean an employee is eligible for retirement benefits under the Teacher Retirement System (TRS) or the Optional Retirement Program (ORP). Employee is solely responsible for consulting with his/her retirement program to determine eligibility for and the amount of any annuity, if any, and applying for such benefits, if any, in accordance with state law. It is the employee’s responsibility to submit the application and information required for retirement to TRS or the ORP financial provider, whichever is applicable, for processing within required timelines of the program.
   
   For employees planning to retire, it is the obligation of the employee to confirm his/her eligibility for retiree health benefits with the Office of Human Resources, Employee Benefit Services. The employee’s voluntary separation date under the Voluntary Separation Incentive Program will be his/her last day of employment with the University, so it will need to coincide with the employee’s retirement date. For retirement application details, timelines, retiree insurance benefits and other requirements, contact a Benefits Representative at 817-272-5554.

What is the Voluntary Separation Incentive Payment?

An eligible employee who executes a Voluntary Separation Agreement will receive a one-time payment equal to the employee’s annual base salary as of March 28, 2011, less all required federal and state taxes and deductions as required by law The one-time payment will be made no later than fifteen working days after separation.

The University will not count this payment as compensation for purposes of retirement contribution under the Teacher Retirement System (TRS) or the Optional Retirement Program (ORP).

When can I take advantage of the program?

An eligible employee must agree to voluntarily separate from the University on May 31, 2011. Employee understands and agrees that, if Employee has tenure with the University, by resigning Employee relinquishes tenure.

How does an eligible employee apply for the program?

An eligible employee must return their signed agreement to the Office of Human Resources between 8:00 a.m. on March 28, 2011 and 5:00 p.m. on May 11, 2011.

An eligible employee must also notify their Dean and Provost Donald Bobbitt in writing of their intention to apply for the program no later than the day that the signed agreement is returned to the Office of Human Resources.

An eligible employee is advised to consult with an attorney prior to executing the Voluntary Separation Agreement. An eligible employee is advised to consult with a financial advisor before submitting an executed Voluntary Separation Agreement.

How can an eligible employee learn more about the Voluntary Separation Incentive Program?

The Office of Human Resources will be conducting information sessions at various dates and times. Sessions will be conducted in Nedderman Hall, Room 100, the Chemistry Research Building, Room 114 and the Wetsel Building, Room 200. Schedule listed below.

You may also contact the Office of Human Resources, Benefit Services at 817-272-5554 for assistance with any questions.

Voluntary Separation and Retirement Information Sessions

Conducted by the Office of Human Resources, Employee Benefits Services. These sessions will explain the Voluntary Separation Incentive and also discuss eligibility for University retiree insurance benefits. The dates and times for these sessions are listed below.

Social Security and Medicare Informational Session

Conducted by representatives of the Social Security Administration and Medicare. These sessions will cover the eligibility and options of these programs. The date and time for this session is listed below.