Bowling Green Buzz: WKU’s Early Retirement Program Shakes Things Up!
In the charming city of Bowling Green, the campus of Western Kentucky University (WKU) is buzzing with excitement and a little reflection as 57 faculty and staff members opt for early retirement thanks to the university’s Voluntary Separation Incentive Program (VSIP). With the semester winding down, both excitement and nostalgia fill the air.
What’s the Buzz About?
Three years since its first rollout, this year’s VSIP, rolled out on September 3, offered around 388 eligible faculty and staff the opportunity to retire early while pocketing a full year’s salary. Excitingly, all 57 who applied got a big thumbs up! Jace Lux, the university spokesperson, shared that “this program is designed to recognize long-standing employees’ contributions while also refreshing the workforce.”
How is the Retirement Program Funded?
These departing employees had their contracts come to an end on November 30, while faculty are set to see theirs end on December 31. Lux notes that about half of the program’s costs will be covered by the current budget while the rest will bounce from the university’s cash reserves. However, precise costs for this year’s program remain a bit fuzzy as they await info from the Kentucky Public Pensions Authority. Last year’s program saved WKU about $6.2 million overall – that’s a significant slice of change!
A Look at the Numbers
Curious about how much these 57 employees are taking with them? Their combined base salaries total an impressive $3.8 million, plus around $160,000 in benefits. Unlike previous years, this VSIP had no salary cap, which really opened things up!
Reflections from Retirees
Among the folks waving goodbye to campus life is Kenneth Payne, a Public Relations Program Coordinator and a seasoned professional turned retiree. He reflected on his timing saying, “I turned 65 in November, and let’s face it, everything is about timing.” For the next chapter, Payne plans to lend a hand in his son-in-law’s family distillery – now that sounds like an adventure!
Karl Laves, who has dedicated 33 years of his life to WKU, will also be stepping back to make room for the next generation of educators. He shared his sentiment saying, “I think ‘elders’ need to appreciate getting out of the way.” Plus, he and his wife have earned the title “Grandparents” now, and they couldn’t be more excited about the prospect of gardening and exploring new travels!
A Bittersweet Send Off
For some, like Assistant Provost Molly Kerby, the timing of retirement wasn’t as ideal. Having spent 40 years on the Hill, Kerby reflected on her time saying, “WKU basically raised me.” Although she decided to participate in the VSIP program, she admits she’s not entirely ready to leave the campus behind. “It’s been a long ride, for sure,” she said, clearly wrestling with mixed emotions.
Kerby is considering a range of future plans from starting a consulting business to perhaps just lounging at the beach. Who could blame her for dreaming of a more relaxed lifestyle after decades of dedication?
Future for WKU
Excitement isn’t fading; rather, it feels like WKU has a fresh potential cooking up! With new job postings already circulating for roles in Public Relations and Advertising, the department is set to welcome new perspectives. As Payne put it, “I’m excited for the program to get a fresh perspective.”
As the semester wraps up and WKU prepares for a new chapter, it’s clear that while change is hard, sometimes it leads to bright new beginnings. With a nod to all the wonderful contributions made by those stepping down, the community looks forward to a promising future grounded in their shared experiences.
