Staff Incentive Separation Plan

On June 19, 2018, President Laurie L. Patton announced that Middlebury would soon introduce an Elective Incentive Separation Plan to staff at the institution. The following week, David Provost, executive vice president for finance and administration, and Karen Miller, vice president for human resources and chief risk officer, distributed details of the plan in an email to staff.

Middlebury is relying on its workforce planning initiative to identify the number and types of positions that will be eligible for the plan. All told, Middlebury hopes the plan will reduce staff compensation—before benefit costs—by $8 million, or about 10 percent.

Staff members in positions that are identified for reduction will receive a letter containing an incentive offer to end their employment relationship with Middlebury on a specified date. The amount of the financial offer will be based on length of service and the employee’s salary. Detailed information regarding the terms and benefits associated with separation packages will be communicated directly to eligible employees. Middlebury will make its best effort to reassign eligible employees to another job at Middlebury, taking skills and experience into account. The reassignment may be a job shift within the same department, or it may be a job in a different department or area of the institution. There may be some cases where an employee is asked to remain in his or her position for a period of time.

Middlebury anticipates that the vast majority of the separation offers will be made in the spring of 2019, most likely in April. In all cases, the offers will consider the position rather than the person in that position to ensure that we focus on the work we do and abide by antidiscrimination laws.

Middlebury has distributed a list of frequently asked questions that provides more details on the plan.

Faculty Incentive Retirement Program

On June 27, 2018, Interim Provost Jeff Cason and Vice President for Academic Affairs and Dean of the Faculty Andi Lloyd informed faculty of the College that the administration had begun discussion of a Faculty Retirement Incentive Program for college faculty. 

Cason and Lloyd followed up on Sept. 13 with an email providing greater detail on the program. To be eligible, faculty had to be tenured, tenure-track, or term faculty with contract end dates later than July 1, 2021, or faculty on renewable/multiyear term contracts that have been renewed at least once previously. They also must have been benefits-eligible employees who have worked in a benefits-eligible position for at least 10 years after age 45. There were three options for retirement dates: June 2019, December 2019, and June 2020. Faculty wishing to take advantage of the plan were asked to declare their intent by Nov. 30, 2018 and to submit their final paperwork by Jan. 18, 2019

In all, 117 members of the College faculty were eligible for the program.

Ultimately, 23 College faculty submitted their paperwork by the Jan. 18 deadline.

The faculty retirement program includes a lump-sum payment of up to one year of salary, depending on years of service, and the establishment of a Health Reimbursement Account (HRA). The amount of the HRA contribution will be based on years of service. The program also includes access to enrichment funds to support scholarship and research for up to three years after retirement. The precise details of the individual offers depend on the nature of the faculty member’s current contract.

Office of Finance

 

The Office of Finance supports financial management across Middlebury’s schools and programs. It oversees the institution’s annual budget-setting process, short- and long-term financial forecasts, payroll, investments, debt, and cash management. In addition, the office manages business services, and the institution's business information systems.

Alberto Citarella is the Associate Vice President for Finance and Assistant Treasurer. 

If you are a student or parent with a question about student billing, financial aid, or student health insurance, please contact the Office of Student Financial Services at (802) 443-5158 or sfs@middlebury.edu