In Spring 2015 the University will be migrating the faculty & staff email to Exchange Online, a cloud-based email solution. For information about the migration and what you can expect, see the Exchange Online Migration Project website. This site includes a Project Overview Presentation which clearly explains why the migration is taking place and what you can expect.
UPDATE: UL Dept migration is scheduled for 4/13/15. You can see a migration schedule by department on the project migration page.