To Our Staff:
As we continue to assess COVID-19’s financial implications for Case Western Reserve, we also see media reports about how the pandemic is prompting many to reassess their priorities.
Today we announce an initiative that touches on both of those topics—a Voluntary Retirement Incentive Program (VRIP) for eligible staff considering a new chapter of their lives.
As we wrote earlier this month, the university has taken several steps to reduce overall costs, among them hiring freezes and suspension of contributions to Retirement Plan A. Yet given potential tuition revenue losses and increased costs of protective measures, we also recognize that more spending cuts may be required.
This retirement incentive represents one measure that ultimately benefits the university’s budget, while also providing eligible staff an opportunity to pursue other interests. It also is an opportunity to recognize longer-serving staff for their contributions to Case Western Reserve. The program is available to staff in all university general units and schools—with three exceptions. The program is not open to staff in positions that are:
- funded through grants or other external sources;
- in ungraded positions; or
- in the Case School of Engineering and the Frances Payne Bolton School of Nursing*
To be eligible for the program, staff must be at least 55 years old and have 15 years of continuous university employment as of July 1, 2020.
Those accepted to the program will receive a lump-sum payment equal to six months of actual salary and, as university retirees, remain eligible for tuition benefits.
Tomorrow, each eligible staff member will receive an email from Human Resources that provides an application and additional program information, but below are some of the most salient details:
- Applications open tomorrow, June 24, and close at 5 p.m. on July 24, 2020.
- Applications will be reviewed and acted upon in the order they arrive.
- Each unit has discretion regarding the number of applications it grants, but not the positions or individuals eligible for the program.
- Those granted voluntary retirement will have July 31, 2020, as their final date of employment at Case Western Reserve.
Staff in the Human Resources Benefits Office will be hosting Zoom information sessions starting tomorrow and also will be available for detailed consultation regarding individual circumstances.
We thank you in advance for considering this opportunity.
Barbara R. Snyder
Ben Vinson III
Provost and Executive Vice President
*The deans of these schools elected not to participate.