As Penn State grapples with a budget crisis, it is offering some of its faculty and staff at commonwealth campuses a “voluntary separation incentive program,” in which they can volunteer to leave the university with pay and benefits.
The voluntary separation incentive program, or VSIP, will give eligible full-time faculty, staff and administrators the option to leave Penn State with a lump sum payment equal to 12 months of their base salary, minus any applicable withholdings and deductions, according to a release from the university.
The VSIP will be offered at every commonwealth campus. And while there are many details around what makes an employee “eligible,” generally the eligibility is if someone is an active, full-time employee of the university for at least one year.
There are no current plans to implement it at University Park, the law schools or the College of Medicine, the release states, but that may be reevaluated…
