Opinion ID: 1998251
Heading Depth: 1
Heading Rank: 8

Heading: Voluntary Termination Incentive (VTI) General

Text: The purpose of the Voluntary Termination Incentive (VTI) program is to help site management deal with the permanent elimination of jobs designated as excess by site management. When implemented by site management, the VTI program provides for payment of the incentive (outlined below) in such work unit(s) and for such time period(s) as site management decides appropriate. The VTI is subject to collective bargaining at sites where employees are so represented. It also is subject to such administrative rules as site management may prescribe. Rights of modification or termination by the Company are reversed. You may volunteer to terminate your employment and become eligible for a VTI if your termination continues a job for another employee who otherwise would be excess as a result of the announced permanent reduction of force. To volunteer for a VTI, you must apply for it in writing before the site management designated closing date. Volunteers for a VTI will be selected in the order of their Company service or local seniority, whichever is designated by site management. Your voluntary termination may be delayed by management for up to six months if your services are judged to be critical. If you receive a VTI, you are not eligible for severance pay or optional retirement, nor will you have recall rights. However, if you have met the age/service requirements, you are eligible for voluntary retirement or vested rights to deferred pension payment.