Board of Visitors minutes :: January 31, 2003 :: University of Virginia Library

1. In exchange for a Faculty Member's agreement to retire or separate from Full-time employment immediately (e.g., by the May 25 after the date of application for nine- month faculty), the Faculty Member will receive either a Separation Payment, or, in accordance with the terms of Virginia Code Section 2.2-3200,

known as the Workforce Transition Act of 1995 (WTA) and summarized herein at Sections V.B.1.b and c, a WTA Separation Payment or WTA Enhanced Separation.

a. Separation Payment

i. In exchange for a Faculty Member's agreement to retire or separate from Full-time employment immediately (e.g., by the May 25 following the date of application for nine- month faculty), the Faculty Member will receive the Separation Payment equal to 100% of his/her Annual Salary plus an amount equal to 12 months of the University's contribution to the UVA Health Plan for the level of coverage selected at the time of application or Separation, whichever is less.

ii. Separation Payment will be paid in 12, substantially equal monthly [or 26 substantially equal bi-weekly] installments, and will be subject to state and federal withholdings, as appropriate.

iii. Separated Faculty Members will not be precluded from seeking employment with the University on a part-time basis in a position that is not eligible for retirement benefits. Conditions of such part-time employment include:
- A. There must be a bona fide break in service of no less than 30 days.
- B. The re-employed Faculty Member's part-time duties must be substantially different than the Faculty Member's duties prior to separation.
- C. Part-time assignments may not be negotiated prior to Separation.
- D. The Provost's Office or its delegate must approve proposals for re-employment prior to the completion of any re-employment agreement.

b. WTA Separation Payment

1. Faculty Members who sign a Separation Agreement for immediate separation may elect to receive a Separation Payment based on Years of Service and Annual Salary, in accordance with the schedule below, plus be permitted to
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continue participation in the UVA Health plan and group life insurance for 12 months after the date of Separation, during which time the University will continue to pay its portion of the premiums for those programs.

WTA Separation Payment Schedule
Years of Service	Amount of Severance
2 or less	4 weeks of salary
3-9	4 weeks of salary, plus 1 additional week for every year of service over 2
10-14	12 weeks of salary, plus 2 additional weeks for every year of service over 9
15 or more	2 weeks of salary for every year of service, not to exceed 36 weeks

2. Because Faculty Members do not accrue sick or annual leave, WTA Separation Payments will not include any amount for leave payout.

c. WTA Enhanced Separation:

Faculty Members who sign a Separation Agreement for immediate separation may elect to convert the cash value of the WTA Separation Payment plus the value of benefits described in section V.B.1.b into VRS Years of Service, subject to VRS requirements. The conversion formula is: WTA Separation Payment plus Value of Benefits divided by 15% of Annual Salary, rounded to the next whole number equals the number of years that can be purchased.

2. The decision to elect a Separation Payment, a WTA Separation Payment or a WTA Enhanced Separation must be made prior to the execution of a Separation Agreement, and is irrevocable.