Flexible Compensation Benefits Committee

Wednesday, September 17, 2003

3:00 pm

103B Seretean Wellness Center

 

Members Present:  Blackburn, Fox, Harrison, Hunt, Lehenbauer, Morris, Poole, Raff, Reed, Shull, and Stromberg

Members Absent:  Cooper, and Hare    

Ex Officio, Ad Hoc Members and Guest:  Oehrtman, Payne, Purdie, and Wells

Guests  -  Walt Cross and Debbie Love

 

Terry Lehenbauer called the meeting to order.

The agenda was approved.

A draft of the August minutes was distributed.  A motion to approve the minutes with a slight correction was made and seconded.  Motion passed.

Update from HR  -  Wells reported that HR sent 64 letters out and received 27 requests for packets on the Life Insurance RFP.  The bids are due on 9/23 and the recommendation goes to the Board on 10/24. 

October News You Can Use will have information on Long Term Disability and the Flex Benefits enrollment.  There is the possibility of doing Benefits enrollment on-line, but it isn’t ready as of yet. 

Purdie asked if times had been scheduled for employees to ask questions.  Wells distributed a list of Important Dates that covers deadlines for Benefits, which includes a schedule of Informational Sessions for employees. 

Walt Cross came to the meeting to ask why a conversion rate of 50% was decided on for declining Health Insurance.  He doesn’t feel that this is fair.  He also asked the committee to review this decision with the possibility of increasing the rate in the future.  Lehenbauer asked Wells if HR would gather us more background information on conversion of premiums to pay within the Big 12.  Purdie suggested that this might be something that can be adjusted at a later time, also that we might be able to offer part cash, part credits.  Wells suggested that this is a beginning point and a trial year to gather information.

Task Force Update:  Retirement Task Force  -  The Task Force met with Tommy Beavers earlier today to discuss seven items from the Task Force recommendations.  Some of his comments were that he would not support the adoption of anything that would harm OTR and that he would potentially support recommendations that are appropriately funded.  Lehenbauer said that all changes to OTR regulations and formulas must have legislative approval.  Beavers did state that he would fully support item 6, as it was truly a mistake.  Oehrtman said that item 2 is comparable to item 6, as it was also a mistake.  On item 7 Beavers seemed to finally understand that OSU employees want the buy-back option to be available.

The Task Force is still working to complete their final report.

Lehenbauer reported that Dr. Schmidly stated at the last Faculty Council meeting that his legislative priorities for the next year are:  1) addressing faculty & staff compensation issues;  2) OTR – correcting retirement benefit formulas for higher education employees and making OTR an optional rather than a mandated retirement program for eligible employees.

Task Force Update:  Cafeteria Plan Task Force  -  Oehrtman distributed a calendar report that was developed and worked on at the last Cafeteria Task Force meeting.  The committee also set priorities on the remaining recommendations, as follows:
 

1) Wellness and Employee Assistance Program
2) Education Incentive Program for Employee, Spouse and Children
3) Long Term Care Insurance – try to put out an RFP next July, paid with after tax dollars
4) Supplemental Health Insurance – this would also require an RFP (Cancer Insurance and Gap Insurance), paid with pre-tax dollars
5) Flex Account – increase to $10,000
6) Parking – pay with pre-tax dollars
7) Group Term Insurance – (Life Insurance) waive coverage and take premium as cash
 

Old Business  - 

Copies of the Shared Leave Plan from Panhandle State University were distributed.  This policy was approved by the Board of Regents earlier this year.  This is just information for the Cafeteria Task Force.  Poole remarked that NEO can donate Annual Leave but not Sick Leave.

Purdie distributed three items of information and a booklet, “Best Bites & Hikes.”  There is a need for continued support from the committee to assist with keeping Wellness a priority at OSU campuses.  

New Business  - 

Alternate dental providers  -  Is it possible for OSU to have more than one dental provider?  Wells said that we would have to investigate if another dental provider could be added or if the state plan (OSEEGIB) would have to remain as the exclusive dental health insurance provider if the state health plan was in force. 

Alternate options for retirement investment  -  beyond TIAA-CREF  -  We were told earlier that the SEC Required electronic transfer of funds.  Others have told us that it isn’t a specific SEC requirement but rather that funds be handled in an expeditious manner.  Barbara will contact TIAA-CREF to find out the basis of their statement.  Lehenbauer also asked that HR check out the feasibility of having other vendors available for our Employer Contributions.  Fox asked how TIAA-CREF originated as our choice and why there are no others.

Meeting adjourned.   

Future meeting dates  -  October 15th; November 19th; December 17th.