Home » UofL Trustees approve voluntary separation incentives; program to save $2.5 million

UofL Trustees approve voluntary separation incentives; program to save $2.5 million

Renovations, appointments also approved

LOUISVILLE, Ky. (March 8, 2013) – The University of Louisville’s Board of Trustees on Thursday approved a voluntary separation incentive plan for employees who have worked at the school for at least seven years and who have a combination of age plus years of service that is equal to at least 75.

The program begins May 1. UofL faculty members who sign up will receive one year’s salary and staff members will receive six month’s pay. Provost Shirley Willihnganz said about 300 employees have expressed interest in the program.

The plan is expected to generate savings of at least $2.5 million for strategic initiatives, pay raises for UofL employees or holding tuition increases to a minimum.

“Faculty members are excited about this opportunity,” said the board’s faculty trustee, Joe Steffen.

The board also approved a pilot program that allows employees to take up to one day a year of supervisor-approved leave time to perform community service during work hours.

In other action, the trustees:

♦ Approved renovations to Ekstrom Library and Papa John’s Cardinal Stadium

♦ Approved naming the new soccer stadium Dr. Mark and Cindy Lynn Soccer Stadium

♦ Approved Carolyn M. Callahan as dean of the School of Business effective on or before July 1, 2014

♦ Extended the appointments of Terry Singer, dean of the Kent School of Social Work, and John Sauk, dean of the School of Dentistry

♦ Appointed Robert Hughes, David Dunn and Bob Rounsavall III to the KentuckyOne Health Inc. Board of Directors and Larry Benz to the University Medical Center board

The next meeting of the full UofL Board of Trustees is scheduled for April 18.