University of Nebraska Plans Voluntary Buyouts for Senior Tenured Faculty Amid $20M Budget Gap

The University of Nebraska has announced a Voluntary Separation Incentive Program (VSIP) offering buyouts to tenured faculty aged 62 or older with at least 10 years of service, as a strategic measure to address significant budget shortfalls across its campuses. Eligible faculty can receive a lump sum payment equal to 70% of their base salary if approved, with applications accepted from September 1 to 30, and payouts scheduled for the following summer. Campus chancellors will review applications and may limit participation to maintain essential services, with the program aiming to provide a flexible retirement option while allowing the university to realign resources and invest in key priorities. This initiative is part of broader efforts to close multi-million-dollar budget gaps, including a $27.5 million deficit at the University of Nebraska-Lincoln, which recently announced a similar buyout plan. NU President Jeffrey Gold emphasized the program reflects thoughtful planning and stewardship to ensure the institution's long-term financial sustainability. This marks the fourth faculty buyout program since 2010, underscoring ongoing fiscal challenges faced by the university system.