The University is offering a Voluntary Separation Incentive Program (VSIP) to long-serving full-time staff who meet the eligibility criteria to participate. The VSIP is a step toward achieving our budget goals and enabling us to deliver on the promise of our mission going forward. VSIP is a completely voluntary program.
Program Incentive
The program offers one year of 2022 W-2 gross wages to all eligible participants and will be paid in a lump sum (subject to all applicable withholdings for federal, state and local taxes), in addition to full vacation accrual for 2023 (less days taken). Eligible employees who are currently enrolled in DePaul medical plans will also receive fully subsidized medical coverage for the remainder of calendar year 2023. The subsidized coverage will either be based on an employee's current insurance plan (HMO, PPO, CDHP) or their election of the retiree medical plan (BCBS Medicare Advantage).
Retirement-Eligible Staff
Eligibility criteria:
Full-time staff who meet one of the following criteria as of June 30, 2023:
- At least age 55 with at least 20 years of cumulative full-time service
- At least age 62 with at least 10 years of cumulative full-time service
FAQs for Retirement-Eligible Staff
"Rule of 75" Staff
Eligibility criteria:
- Full-time staff
- Age plus cumulative full-time service equals at least 75 years as of June 30, 2023
FAQs for "Rule of 75" Staff
Important Dates
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April 14, 2023: In order to receive an election packet, an eligible staff member must have completed the Expression of Interest form and returned it to the Office of Human Resources by April 14, 2023. (Note: Returning this form does not bind you to the program.)
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April 24, 2023: All eligible staff who have submitted the Expression of Interest form will receive a Separation Agreement by April 24, 2023.
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June 8, 2023: The signed Separation Agreement must be received by June 8, 2023 for participants to receive the incentive payment which will be paid out by July 21, 2023. (Note: The Separation Agreement will be binding.)
Program Timeline
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April 4, 2023 |
Program packets mailed to eligible staff.
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April 10 - 11, 2023 |
Information sessions for eligible staff.
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April 14, 2023 |
Expression of Interest forms due to the Office of Human Resources.
Note: Returning this form does not bind you to the program.
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April 24, 2023 |
Eligible staff who have submitted the Expression of Interest form will receive a Separation Agreement by April 24, 2023. The review period is 45 days, closing June 8, 2023 (the deadline for returning the agreement).
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June 8, 2023 |
Separation Agreements can be submitted to the Office of Human Resources up until the final deadline of Thursday, June 8 at 5 p.m. Note: You will have 7 days to revoke the Agreement from the date of submission; after the revocation period, the Separation Agreement will be binding.
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June 30, 2023 |
Effective separation date under the program.
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July 14, 2023 |
Last regular paycheck for participants.
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July 21, 2023 |
Payout date for VSIP incentive payment.
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Additional Resources