2020 Voluntary Separation Incentive Program

Kent State University (the “University”) is offering a plan to its eligible employees under which a qualifying employee, in consideration for voluntary relinquishment of employment under the terms provided herein, may receive a cash payment or payments. Below you will find the details of the Voluntary Separation Incentive Program (VSIP).

Employees who are eligible for the VSIP as defined under the “Definition” portion of the plan, should read all plan provisions. Eligible staff members must execute the necessary forms by June 1, 2020. For faculty members, all necessary forms must be executed by June 24, 2020. For added convenience and security, forms can be accessed via DocuSign under the “Resources” portion of this page.

Program Summary

Kent State University (the “University”) is offering a plan to its eligible employees under which a qualifying employee, in consideration for voluntary relinquishment of employment under the terms provided herein, may receive a cash payment or payments.  This is the Plan document for the Kent State University 2020 Voluntary Separation Incentive Program for Faculty Members, Non-Represented Employees, and AFSCME-Represented Employees (the “Plan”).  This Plan was approved by the Kent State University Board of Trustees on May 6, 2020.  The terms of the Plan consist of the Plan document, as well as the Release and Waiver of Claims Agreement, the Notice of Enrollment and Employee Information Form, the Benefit Payment Schedule Election, and the Beneficiaries for Plan Payments form. 

Under the Plan, the University promises to pay the benefits described herein to an Eligible Employee who agrees to separate from service by June 30, 2020, (or an alternate date mutually agreed to between the University and the Employee) and fulfills his or her contractual obligations through the date of his or her retirement or separation from service (the “Exit Date”). Failure to fulfill contractual obligations through the Employee’s Exit Date will result in forfeiture of the benefits. Disability or death is not considered a lack of fulfillment of contractual benefits and does not preclude the Employee or beneficiary from receiving benefits.

This Plan is not a retirement program and is not intended to provide retirement income.  This Plan is intended to qualify as a severance pay plan as defined under Code Section 457(e)(11) and as a “window program” under Code Section 409A.  It does not replace or alter the retirement plans sponsored by the University.  Thus, an election to end employment with the University and to receive payments under this Plan will not change benefits provided under the University retirement program that an electing employee may be eligible to receive.

For technical assistance with the docusign process please submit a support ticket.

For questions regarding the Voluntary Separation Incentive Program (VSIP), please visit our FAQ’s or you may contact hrweb@kent.edu.

I. Definition
II. Eligibility
III. Date of Separation
IV. Plan Benefits
V. Election
VI. Effect of Plan Election
VII. Death or Disability
VIII. Divorce
IX. Additional Conditions
X. Amendment or Termination of Plan
XI. Code Sections 457 and 409A.