Flexible Compensation Benefits Committee
Wednesday, August 20, 2003
3:00 pm
103B Seretean Wellness Center
Members Present: Blackburn, Cooper, Fox, Harrison, Hunt, Lehenbauer, Raff, Reed, Shull, and Stromberg
Members Absent: Hare, Morris, and Poole
Ex Officio, Ad Hoc Members and Guest: Barfield, Matoy, Oehrtman, Payne, and Purdie
Terry Lehenbauer called the meeting to order.
New staff representative, Jon Hunt, was introduced.
The agenda was approved.
A draft of the July minutes was distributed. A motion to approve the minutes was made and seconded. The minutes were approved as distributed.
As a follow-up to last months report from Dennis White, TIAA-CREF information was distributed on retirement investment options that will become available in the future. This information is intended for our use only - - DO NOT COPY or DISTRIBUTE.
Matoy again mentioned that these options cannot be made available before January, 2004 with a very real possibility that it could be later because the implementations of these options is dependent upon the new State accounting system.
Raff said he was asked how a person could get a fund added as an option for 457B other than those now offered. Matoy said that a request sent to her office from 25 employees that intend to contribute is all that is needed. She said that normally that process is driven by a sales person from the fund/company that is being requested. It was suggested by Raff that we should let employees know that this process is in place so it can be utilized. Matoy will write an article for News You Can Use for October. Hunt suggested that we start with a list of current vendors.
Update from HR - Matoy distributed a News Release as well as a new rates table for Health Insurance for 2004. Matoy, Lehenbauer, and Cooper attended a meeting at OSEEGIB (Oklahoma State and Education Employees Group Insurance Board) in Oklahoma City on August 8 prior to OSEEGIB’s finalizing premium rates for 2004. When asked for input, OSU representatives expressed a preference for maintaining our benefits rather than reducing benefits to save premiums. The final decisions from those meetings are in the handouts. The increase in premiums is slightly less than anticipated, with a few changes in benefits but not all were detrimental. Major changes are removal of the $1 million cap for each insured person, co-pay increased by $5 to $25, but the deductible remains at $300/per person. Benefit election packets should be mailed to all employees in September.
Matoy heard from OU that they may go forward with an RFP for a different medical plan. She asked that they keep us informed.
LTD Changes - Matoy distributed a handout with 2 options for Long Term Disability. Option 1 - eliminated the 70% option and increase the rate on 60% option. Option 2 - increase the rate for 60% and 70% options. A motion to vote on the two options was made and seconded. The vote was to accept Option 2.
Matoy also distributed an Update of Benefit Changes that summarizes all of the changes that have gone into effect or will be going into effect this fall.
Status Update on Maternity/Family Leave Recommendation - No significant progress has been made on this item since the last meeting.
Status Update on Change to the Employee Sick Leave Cap - As indicated in the Update of Benefit Changes document provided by Matoy, accrued sick leave in excess of the 1,600-hour cap is being tracked and placed in an Extended Sick Leave Account beginning July 1, 2003. Employee records will be reviewed and sick leave amounts forfeited during the past ten years will be estimated and added to the Extended Account. At the present time, the Extended Account only applies to additional year of service credit for retirement benefit use by employees who joined OTRS prior to July 1, 1992.
Task Force Update: Retirement Task Force -
The task force has completed most of their work and the final report should be out by the middle of September. Barfield and others will meet with Tommy Beavers, OTR Executive Secretary, in September to go over our concerns with him and talk about where we are and what our next move will be.
Raff asked about our impressions regarding Tommy Beavers’ views on various OTR issues affecting OSU. Matoy said that is a good question - - he has not moved on some items we have requested, but Beavers has generally shown concern for the welfare of OTR members when considering changes.
Task Force Update: Cafeteria Plan Task Force.
Robin Purdie gave an overview of health promotion and wellness at OSU. One of the long-term goals of the Wellness Center is to help OSU become one of the healthiest campuses in America. Purdie provided a document comparing wellness programs across Big XII universities and other selected institutions. Additional information was provided about major health concerns in the U.S., such as obesity and lack of physical activity. The Wellness Center has formed a faculty/ staff advisory board which has met three times.
Robert Oehrtman and Louisa Payne have been approved for appointment to the Cafeteria Plan Task Force. (They will also serve as non-voting ex officio members of FCBC.) Oehrtman will chair the task force, replacing John Wilguess who resigned earlier this year from this committee. The task force will continue work on the cafeteria plan and will prioritize items for implementation.
Information has been provided to recently appointed FCBC members about previous activity and accomplishments of the Cafeteria Plan Task Force.
Announcements/Additional Items - Lehenbauer announced the recent approval by the Regents of Martin Luther King Day as an OSU holiday.
A life insurance RFP (Request for Proposals) review committee has been established to work with Human Resources and the Segal Company in providing recommendations for selecting a new vendor for life insurance beginning in 2004. Shull, Fox, and Reed are serving on the committee. Their work is to be completed in time for a recommendation to be considered by the Regents at their October 24, 2003, meeting.
Meeting adjourned.
Future meeting dates -
September 17th
October 15th
November 19th
December 17th