Queen’s University Offers New Voluntary Exit Incentive Program to Balance Budget and Alleviate Financial Strains in FAS Department

Voluntary Exit Incentive Offered to Faculty of Arts and Science Staff

The Voluntary Exit Incentive (VEI) pilot program has been introduced by Queen’s Faculty of Arts and Science (FAS) in an effort to reach a balanced budget. Eligible FAS staff members can voluntarily leave their position in exchange for a lump sum payment equivalent to four weeks of regular salary per completed year of service, up to a maximum of 52 weeks for longer-serving employees.

The VEI program is one of several cost-saving measures implemented by FAS to achieve a balanced operating budget. If successful, the university may expand the program to other areas if needed. The initiative is limited to staff from the FAS department, which is currently facing the most pressing need for cost reductions at the university.

To be considered for the pilot program, eligible staff must submit their application by April 30, 2024. Notifications of approval will be sent out by May 10, 2024. Detailed information about the incentive and staff eligibility criteria can be found on the newly created VEI pilot program website.

It is important to note that this VEI program for FAS staff is separate from the Voluntary Retirement Plan (VRP) announced earlier, which is available to eligible faculty, librarians, and archivists university-wide. For more information on both programs, including frequently asked questions and updates on the VEI pilot program, visit their respective websites.

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