Binghamton University is taking initiative to combat budget cuts by offering full-time employees a percentage of their annual salary if they resign or retire early.

“The Voluntary Separation Program (VSP) focuses on one of the University’s largest operating costs: its personnel,” said BU spokeswoman Gail Glover. “We expect that this program will minimize the need for more aggressive actions.”

According to Glover, many faculty members expressed interest in the program, which was first announced Feb. 8. She could not comment on how many faculty members will be participating in the program, since a commitment is not necessary until April. The program requires participants to leave the University by the end of the semester.

Once an employee volunteers, human resources will decide on their acceptance, which will be based on funding availability. Those accepted will receive written confirmation by May 3.

According to BU’s Web site on VSP, employees with 15 or more uninterrupted years of teaching who have been on full-time payroll since Jan. 21 are eligible for the program and will receive 35 percent of their current base salary. Employees with more than 25 years of service are eligible for 50 percent of their current base salary.

Faculty will receive their lump-sum payment in September 2010; all other staff will receive it in July 2010.

Glover said that those who participate in the VSP would provide BU with an opportunity to take fewer direct actions in order to reduce costs.

“Participants will assist the University in addressing budget reductions and help avoid involuntary layoff actions affecting colleagues who may not have similar flexibility,” she said.

According to Glover, the faculty and staff at BU have continually proved their flexibility in adapting to the changing needs of the University. She added that those who participate in the VSP should expect that they will not be rehired.

However, those who are volunteering to retire could be rehired under certain conditions of the New York state retirement law. Glover said that these decisions will be made on a case-by-case basis by the appropriate vice president.

A faculty member at BU, who requested to remain anonymous out of concern for the future of his or her job, said it would be unexpected for any professors to take up the offer because they would have worked hard to earn their positions.

“It [the program] would potentially get rid of professors who have the largest knowledge basis in their field, which could make the University less attractive to incoming students,” the faculty member said.

Employees who qualify and are interested in participating in the program need to submit their applications to Human Resources by March 1. Final commitments to the program are due by April 15.

More information about the VSP and application information is available at www2.binghamton.edu/human-resources/current-employees/Voluntary-Separation-Program/index.html.