As part of a strategic plan to create opportunities for organizational adjustments to meet future needs, CSUSM has implemented an Early Exit Program (EEP), which is intended to encourage employees to voluntarily separate or retire from the University no earlier than December 15, 2021 and no later than December 31, 2021 and thus receive a severance package. This program is not generated by, nor does the University anticipate, implementing layoffs in connection with the program. This is a one-time, non-precedent setting program.
Employees who voluntarily separate or retire from the University as part of the Early Exit Program will be offered severance pay in accordance with the CSUSM EEP Terms and Conditions.
In exchange for voluntarily separating and executing separation agreements, which include a general release of all claims, employees will be paid six months' salary or a minimum of $35,000 (whichever is higher) up to a maximum cap of $90,000. A maximum of 3 weeks (i.e., 15 workdays) of accrued vacation may be used prior to the separation date.
Current employees who have established a retirement date but have not yet retired are eligible, provided they comply with all Terms and Conditions of the Early Exit Program.
Faculty with FERP applications pending may withdraw their FERP application in order to participate. Participation in FERP and EEP is mutually exclusive.
The application period opens at 8:00 a.m. on June 1, 2021 and will end no later than 11:59 p.m. on June 15, 2021.
Completed applications will be processed on a first come, first served basis. The date and time that the employee submits the completed application to their appropriate administrator is tracked in AdobeSign and will be used to determine the order in which applications are submitted.
A separation date must be no earlier than December 15, 2021 and no later than December 31, 2021.
A maximum of three weeks (i.e., 15 workdays) of accrued vacation may be used prior to the separation date.
In participating in the program, employees acknowledge that their resignation is voluntary and permanent and will be irrevocable as of the date of the execution of the first separation agreement and release. Further, the employee will be required to waive any right they may have under any applicable law, regulation, collective bargaining agreement, or policy to revoke or rescind the employee's resignation.
The 2021 EEP Application Form must be filled out completely and signed via AdobeSign by both the employee and the employee's appropriate administrator. The date and time that the employee submits the completed application to their appropriate administrator is tracked in AdobeSign and will be used to determine the order in which applications are submitted.
The separation date must be no earlier than December 15, 2021 and no later than December 31, 2021. If the employee intends to retire, it is highly recommended that the employee contacts CalPERS as retirement processing may take up to 4 months. It is the employee's responsibility to collect all pertinent information prior to submitting the application. Employees needing assistance with the application or process may contact the Office of Human Resources at email@example.com.
There is no guarantee that an application will be processed before termination of the EEP. Termination of the EEP may occur at any time at management's discretion, including by not limited to expenditure of funds allocated to the program.
The severance package will be divided into two (2) parts. Employees will receive $10,000 of the calculated severance package (a signing bonus) in exchange for signing the first separation agreement ("First Separation Agreement and Release"), which shall include a signed letter of voluntary resignation as explained above, within thirty (30) calendar days of receipt of the fully executed first separation agreement.
Employees will receive the remainder of the calculated severance package within thirty (30) calendar days of receipt of the fully executed final separation agreement ("Final Separation Agreement and Release").
NOTE: The severance package is taxable income and is to be paid through the State Payroll System. This income is not considered compensation earnable for purposes of calculating CalPERS retirement benefits. Moreover, the severance pay cannot be deferred to the following tax year nor into a defined contribution plan, defied benefit plan, brokerage account, or an annuity of any kind.
In exchange for voluntarily separating and executing separation agreements, employees will be paid six months' salary or a minimum of $35,000 (whichever is higher) up to a maximum of $90,000.
Severance is calculated using an employee's monthly base salary (prorated for employees appointed less than full time) at the time of separation.
If you are having technical issues accessing the form, please contact the AdobeSign team: firstname.lastname@example.org.
If you have questions about how to complete the application, please contact Human Resources: email@example.com.
|CSUSM Benefits Office||Questions regarding the EEP, benefits, general retirement||
|Fidelity||403(b) Supplemental Retirement Program||
|Savings Plus||457(b) and 401(k) Supplemental Retirement Program||
|Social Security Administration||Social Security questions and application process||
|Medicare||Federal health insurance for retirees||
|Empathia||Employee Assistance Program||