The univeristy I work for is "pleased to announce" a new voluntary furlough program to reduce costs. If you sign up, you:
* lose pay
* lose retirement contributions
* do not accrue PTO
And in return you get:
* nothing
Assuming this is an attempt to save off involuntary furloughs, I'd think they'd want to add at least minimal incentives. This is all carrot and no stick, and you're being asked to sign up for the stick. Needless to say, I won't be volunteering.