Goal of Voluntary Separation Agreement

To provide faculty who have served the college for a significant period of time with options as they consider separation from the institution.

Options

A. Early Separation

Early separation (tenure buy-out) may be attractive to faculty who wish to  leave the employ of the institution prior to the time when they receive full social security/Medicare benefits.

Early separation (tenure buy-out) will be discussed on an individual basis. Typically, persons eligible should be at least 55 and have served 15 years or more. The financial impact to the college will be a significant consideration. Discussion items will typically include:

• • Compensation expectations
  • Health insurance
  • Other financial benefits
  • Education benefits
  • Post-separation adjunct teaching opportunities

B. Phased Separation

Phased separation (tenure buy-out) may be attractive to faculty who wish to reduce their teaching commitment at the institution over one or more years.

Phased Separation will be discussed on an individual basis. Typically, persons eligible should be at least 55 and have served 15 years or more. The financial impact to the college will be a significant consideration. Discussion items will typically include:

• • Compensation expectations
  • Health insurance
  • Other financial benefits
  • Education benefits
  • Length of phase-down
  • Teaching assignment during phase-down
  • Administrative assignment during phase-down

C. Process

Faculty interested in discussing a potential voluntary separation agreement should contact the academic dean.