Tennessee State University Voluntary Buyout Plan

The Voluntary Buyout Program (VBP) has been established to assist the University in addressing budgetary constraints due to state appropriation reversions and potential budget reductions in the forthcoming fiscal year.  Savings realized from the VBP will also provide an opportunity to rebalance financial and human resources for the University.  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, active employees, with at least twelve (12) months of service to the University as of May 1, 2009, meeting the specified criteria, and who are not in an excluded job function. Interested employees will have through June 30, 2009 to review and submit an application to the VBP Administrator in the Office of Human Resources. 

VBP Severance Package

• Payment equal to three times the monthly rate of pay in effect on May 1, 2009.
• Payment of $500 for each full or partial year of University service as of June  30,2009 or the Voluntary Separation Date; partial months will be rounded up.
• Payment equivalent to next scheduled longevity payment.
• Payment equal to six months of the University's portion of monthly health insurance premium based on plan election as of May 1, 2009.
• Tuition assistance for TBR and UT systems entities for the employee only; maximum benefit is $5,400 per year for two years, totaling $10,800.
• Membership in the TSU Wellness Center, Faculty/Staff rate, if applicable, for athletic and TSU events.

Detailed information is available using the following links:

                        Timeline

                        Frequently Asked Questions

                        Am I Eligible?

                        Voluntary Buyout Program Presentation

                        Voluntary Buyout Program Document

                        Voluntary Buyout Program Application

                         Voluntary Buyout Program Waiver & Release Agreement

                        Retirement Information

                        Voluntary Buyout Program Estimator Worksheet

Contact Information for the Voluntary Buyout Program

E-mail:  vbp@tnstate.edu

     Phone: (615) 963-5281 or 1-888-287-2583 

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.