The Heartland Community College Board of Trustees will vote Tuesday on a cost-saving Voluntary Separation Incentive Plan that officials hope will attract dozens of employees.
The program would allow eligible employees to voluntarily leave employment in exchange for a one-time incentive benefit. The program is designed to help Heartland achieve cost savings.
“Right now, we are projecting a cost savings of approximately $1.5 million or more per year once the plan has been fully implemented,” said Noah Lamb, Heartland's vice president for finance and administration.
Employees approved for the VSIP will receive a salary-based payment, a service-based payment and a healthcare transition allowance. Rather than automatically refill positions the VSIP makes vacant, salary and benefit resources will be evaluated by the college to address strategic investments, operational efficiencies and institutional priorities.
Employees with at least 15 years of cumulative regular service by June 30, 2028, will be eligible to apply. Lamb said that makes 88 eligible employees at the college.
“We are projecting that approximately 30 to 35 individuals would actually take us up on the voluntary separation, and that data comes from just some standards that we're seeing in other organizations that have done a voluntary separation,” said Lamb.
Implementing the VSIP would come with a one-time cost of $2 million over a three fiscal year period, Lamb said. That would be funded through potential operational savings and board-designated reserves.
“Of the individuals that are eligible,” said Lamb, “many of them have already been contemplating the potential of retirement and a separation in that sense, as well as some others that may be thinking about a career change outside of higher education.”
VSIP and similar plans are also offered elsewhere. State Farm added incentives for employees in 2025 and Carle Health did so in 2023. The University of Illinois-Springfield offered a separation plan earlier in the year. Heartland Community College implemented one during the previous decade, when there had been many employees around retirement age at the same time.
Heartland's next board meeting is set for 6 p.m. Tuesday at its Community Commons Building room 1406/07.
