Flexible Compensation Benefits Committee

Thursday, Feb. 27, 2003

Conference Room, Wellness Center

Minutes

Members Present:  Fox, Henderson, Lehenbauer, Payne, and Wilguess

Members Absent: Blackburn, Cooper, Hare, Morris, and Poole

Ad Hoc, Ex Officio members and Guests Present:  Matoy, Oerhtman, and Purdie

Motion to approve the agenda was made by Payne and seconded by Lehenbauer. Passed.

The motion to approve the minutes of the Dec. 16 meeting was made by Lehenbuauer and seconded by Wilguess.  Passed.

Lehenbauer reported that the retirement taskforce’s presentation about changes in OTR had been presented to the administration officers group.  Retirement committee was also meeting this afternoon to schedule public presentations of the full retirement proposal

Matoy reported that they are still waiting for Judge Morris’ report.  There is an OTR shell bill in place to keep it on the legislative calendar.

OU will not move on this until after tuition hike is dealt with.

TIAA-Cref had suggested that we do a plan as an alternative to social security.  According to the Social Security Administration, it can’t legally be done.

The administration is moving forward with the 457B deferred compensation plan.  It has been approved by Faculty Council and Staff Advisory Council and is on the E-group’s agenda.

The uncapping of the 1600 hours of sick leave has been passed by FC and is still under discussion by SAC.

Three documents were distributed.  The first was a letter from the head of HR at OU stating that their consultant on health care had recommended that OU join the state plan, HealthChoice.  The letter went on to discuss the fact that under OU’s current plan costs had exceeded contributions by $13 million in the past two years and additional 10 million deficit was anticipated this year.

The second document was provided by David Peters.  It detailed the cost of health care premiums paid by the employees of the Big 12 universities.  This gave a clear picture of dependent premiums that were subsidized at other universities.

The last was a copy of the bid review of the health insurance subcommittee, April 1997, the last time the health insurance was submitted for a bid.  

Wilguess distributed a draft of the cafeteria plan taskforce’s ideas on a paid time off plan.  Discussion followed.

Items for next meeting.  Report on a possible RFI for health insurance. 

                                         Presentation of cafeteria plan to FC, SAC, and Adm. Officers.

Motion to adjourn was made and seconded.  Passed.           

            Future meeting dates                  Thursday, Mar. 27, 3:00 - 5:00

                                                                  Thursday, Apr. 24, 3:00 – 5:00

Motion to adjourn was made and seconded. Passed