FAQs: Voluntary Separation Incentive Program (VSIP)

The Voluntary Separation Incentive Program (VSIP) is a one-time voluntary retirement incentive available to eligible full-time SUNY Oswego faculty members. Approved participants receive a one-time financial incentive in exchange for voluntarily separating from the university.

During this initial phase, the VSIP is available only to eligible full-time faculty members.

The program is funded by a one-time investment from the Oswego University Foundation. Because funding is limited, the university is launching a pilot program for eligible faculty. The university will evaluate the results of this initial program before determining whether additional opportunities may be offered in the future.

Eligible participants must be full-time SUNY Oswego faculty members who are retirement-eligible under the New York State Retirement System, have at least 15 years of full-time New York State service as of September 13, 2026, and be in good standing at the time of application.

Retirement eligibility is determined by the rules of the New York State Retirement System. Human Resources can help faculty members determine whether they meet the eligibility requirements for the VSIP.

Yes. Faculty members on approved leave, including sabbatical or Family and Medical Leave (FMLA), remain eligible if they otherwise meet the program’s requirements.

Generally, "good standing" means the employee is actively employed by SUNY Oswego and is not subject to disciplinary action or other employment circumstances that would make them ineligible to participate. Human Resources can answer questions about individual situations.

No. Retirees who were rehired are not eligible for the program.

Approved participants will receive a one-time lump-sum payment equal to 10% of their base annual salary as of September 13, 2026, plus $500 for each year of service at SUNY Oswego.

Yes. The payment is taxable income and will be reported on IRS Form 1099.

The incentive payment is separate from your retirement benefits. However, retirement decisions can affect pension benefits depending on your circumstances. Faculty members should consult Human Resources and their retirement system before making a decision.

Social Security benefits depend on each individual's work history and retirement circumstances. Faculty members should consult the Social Security Administration or a qualified financial advisor for guidance.

Faculty members are required to consult Human Resources and are encouraged to consult the New York State Retirement System, a financial planner, a tax advisor, the Social Security Administration, and, if applicable, their union representative before making a decision.

Eligibility for retiree health insurance is determined by applicable New York State and SUNY benefit provisions. During your consultation, Human Resources will review available options and explain how dental and vision coverage may change after retirement.

Unused sick leave will be calculated in accordance with applicable New York State laws and collective bargaining agreement provisions. Human Resources will review your individual situation during your consultation.

Yes. A confidential consultation with Human Resources is required before submitting an application. During that meeting, HR will review the incentive payment, retirement benefits, health insurance, sick leave, and other key information.

Interested faculty members must first schedule a confidential consultation with Human Resources. After the consultation, eligible faculty may submit an application during the application period.

Applications must be received by Human Resources by 12:00 p.m. Friday, October 30, 2026.

Yes. Faculty members may withdraw their application at any time before submitting an irrevocable letter of resignation, as long as they are approved for the program.

Once an approved participant submits the required irrevocable letter of resignation, the decision is final.

No. Meeting the eligibility requirements does not guarantee approval.

If applications exceed available funding, approvals will be based on the university's operational needs, strategic priorities, and the availability of program funding.

Once an approved participant submits the required irrevocable letter of resignation, the decision is final.

Applications are reviewed and either approved or denied by the President or the President's designee.

Participants should assume they will not be rehired by SUNY Oswego after participating in the VSIP.

No. The university will decide whether to refill positions based on academic needs, enrollment priorities, workforce planning, and available resources.

Departments may identify staffing needs through the university's established hiring and budgeting processes. Decisions regarding replacement positions will be based on institutional priorities and available resources.

The VSIP is funded by a one-time investment from the Oswego University Foundation. New York State operating funds may not be used to support voluntary separation incentive programs.

Faculty members with questions about eligibility, the application process, or retirement benefits should contact the Office of Human Resources at 315-312-2230 or [email protected]