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Voluntary Buyout Program
The Voluntary Buyout Program (VBP) has been established to assist
the University in continuing to achieve the goals of the Academic
Master Plan during these tough economic times. The VBP is
designed to provide eligible employees who voluntarily elect to
separate employment with the University with severance pay and
severance benefits.
The Voluntary Buyout Program (VBP)
is being offered to regular, actively employed, with at least six
(6) months of service to the University as of December 1, 2009,
meeting the specified criteria, and who are not in an excluded job
function. Interested employees will have through January 15,
2010 to review and submit an application to the VBP Administrator in
the Office of Human Resources.
VBP Severance Package:
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Payment equal to three times
the monthly rate of pay in effect on November 30, 2009
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Payment of $500 for each full
or partial year of University service as of
your Voluntary Separation Date; partial months will be rounded
up
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Payment equivalent to next
scheduled longevity payment
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Payment equal to six (6)
months of the University's portion of monthly health insurance
premium based on plan election as of November 30, 2009
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Tuition Assistance for TBR and
UT systems entities for the employee only; maximum benefit to
$5,400 per year for two years, totaling $10,800
Detailed information is available using the following links:
Am I Eligible?
Frequently Asked Questions
Timeline
VBP Program Document (PDF)
VBP Application (PDF)
VBP
Waiver & Release Agreement (PDF)
VBP Tuition Assistance Form (PDF)
VBP Information Session
Contact Information for the Voluntary Buyout Program:
Kathy Musselman
Email: kmusselm@mtsu.edu
Phone: (615) 898-2929
If there is any difference between an explanation on this Web site
and the VBP Program Document, the terms of the VBP Program Document
will control.
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