Last week we held 10 information sessions across the state for eligible employees to learn more and ask questions about the Voluntary Buyout Program (VBP). Thank you to all those employees who participated. We have also received more than 3,000 calls to the VBP Call Center and more than 1,000 emails from employees with questions about the VBP.
There are two issues and concerns in particular that have been raised repeatedly that I would like to take this opportunity to address.
The first issue pertains to retirement. Specifically, we have been asked if participating in the VBP affects retirement benefits, timing or conditions. The answer is no. The VBP does not affect the level of retirement benefits, either now or in the future. For more information, please review the Frequently Asked Question regarding retirement benefits found at the top of the page. (Note: If you have visited a Web page previously, you may need to click “refresh” to view its updates.)
We have also learned that some retirement-eligible employees do not want to retire until they can be certain they will be accepted in the VBP. Those employees may delay that decision without fear of jeopardizing their ability to retire. For more information, please see the Frequently Asked Question related to waiting to file retirement papers on this page.
For information regarding returning to state employment after two years and the effect on TCRS service and salary credit, longevity credit, sick leave balance and other issues, please see the Frequently Asked Question on this subject on this page.
The second question repeatedly asked is: “If an employee received the VBP packet, will they necessarily be subject to an involuntary reduction in force either immediately after the VBP or in the future?” The answer again is no.
One of the sources of this confusion, we have learned in talking with employees, was the wording used in the agency Eligibility Summary documents found on the agency plan pages on the VBP Web site.
The final column in each agency’s Eligibility Summary document indicates the number of VBP offers that an agency will accept, not the number of positions that will be necessarily be eliminated.
To be clear: Under the VBP, a position will be eliminated only after the following occurs: (1) an employee applies for the buyout, (2) the employee is accepted into the program, and (3) the employee voluntarily separates from the State. These eliminations will result in an ongoing cost saving for the agency and the State.
The wording on the Eligibility Summary documents has been changed to more accurately reflect this. For information on any future reductions in force, please see the Frequently Asked Question about any reduction in force (RIF) that might occur in the future here.
As we have stressed through out the VBP program materials and our meetings with employees this week, if the VBP is not in your best interest, you should not take it. But if you feel it is in your best interest, you should strongly consider it. Remember that the program is voluntary, and the decision about whether it is right for you is one that only you can make.
We are making a number of resources available, however, to allow you to have as much information as possible in making your decision.
VBP Web Site - Go to www.tn.gov and click on the gold button that says “Voluntary Buyout Program.” Frequently Asked Questions are updated often, and you can view the same video used in the employee information sessions.
VBP Call Center - Call 615-253-9980 or toll free 1-866-252-7954 from 7 a.m. to 7 p.m. Central time Monday through Friday or 9 a.m. to noon Central time on Saturday.
Email your questions to: Voluntary.Buyout@tn.gov
I would like to thank you all for your service to the State of Tennessee, and I hope you find this information helpful.
Dave Goetz
Commissioner
Department of Finance & Administration
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