Syracuse University staff members were informed Tuesday of a buyout program that aims to cut costs.

The new Voluntary Separation Incentive Program was announced in an email by Senior Vice President and Chief Human Resources Officer Andy Gordon on Tuesday. Starting Wednesday, staff members whose age and years of service combined is 65 or larger will be eligible “to receive enhanced benefits designed to help them pursue new opportunities.”

Employees who are eligible to receive benefits through the program will be notified on Wednesday via email and have until Aug. 5 to apply for the program, according to the email.

Those who chose to receive the buyout will receive a single cash payment of half of their base annual salary, according to the email. They will also receive medical, dental and vision plan subsidies, according to the email.

The administration has created the program for eligible non-faculty SU staff as part of the university’s efforts to advance its standing as a “great, student-focused, international research university that attracts great students, faculty and staff,” according to the email.

The program, which is part of Fast Forward Syracuse, is voluntary and is designed so eligible staff members will not be restricted by their commitments to the university if they wish to pursue other career opportunities, spend time with family or begin retirement, according to the email.

As for when eligible staff can expect for things to be finalized, the email mentions that “separation from service dates will be determined in accordance with operational needs of the schools, colleges and administrative units and generally will be phased in between mid-August and December 31, 2015.”

Faculty members are not eligible for the program.

Published on June 30, 2015 at 5:53 pm

Contact Ali: Ali Linan