University News

Update: Voluntary Retirement Program 2018

October 26, 2018


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Dear University Community,

Western Illinois University continues to face economic challenges, and as part of a multi-faceted approach to save our resources and to address our fiscal reality, Western will again implement a voluntary program for qualified faculty and staff who are retirement-eligible according to the State Universities Retirement System (SURS).

Eligible employees who voluntarily elect to retire effective January 1, 2019 (last day of employment is December 31, 2018) will receive a one-time lump sum payment equal to 25 percent of the employee's annual base salary as of December 1, 2018.

This payment cannot be considered income for calculating retirement benefits with the State Universities Retirement System (SURS). This payment will also be subject to federal and state income tax withholding and, if applicable, federal Medicare withholding.

Applications for the program will be accepted through December 20, 2018. This is a limited time program based on the availability of funds. Applications will be considered in the order that they are received.

To apply for the voluntary program, contact the Benefits Office at (309) 298-1971, ext. 3. Additional information will be available at wiu.edu/vpas/human_resources/benefits/voluntaryretirement.php.

We are deeply appreciative of the efforts and dedication of every member of our University community. To remain a viable and strong institution, we must continue to work together to prevail over the fiscal challenges facing public higher education. Thank you for your continued support.

Sincerely,

Jack Thomas
President

Posted By: WIU News (U-Relations@wiu.edu)
Office of University Relations