Flexible Compensation Benefits Committee

Wednesday, November 19, 2003

3:00 pm

103B Seretean Wellness Center

 

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

Members Absent:  Poole     

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

 

Terry Lehenbauer called the meeting to order.

 

1.         The agenda was approved.

 

2.         A draft of the October minutes was distributed.  After several modifications, a motion to approve the minutes as modified was made and seconded.  Motion was approved.

 

3.         Update from HR  -  Life Insurance RFP Process  -  Dalton distributed information about the new Life Insurance Program.  Personalized enrollment packets will be sent to employees next week.  Enrollment to be completed by the end of December for a January 1 effective date.  Coverage will roll over for those who currently have family coverage, if no changes are required.  Proof of insurability is not required, unless you are requesting move than the initial level.  ING will be on campus on Friday afternoon.

 

The Big 12 Comparative information will be done in conjunction with the Big 12 meeting in the spring.

 

The question about additional providers for dental insurance will be an agenda item at the next OSEEGIB meeting.

 

Enhancement of Retirement Education  -  Our first effort will be at the Benefits Fair (4/6 & 7).  We will ask vendors to present Educational Seminars.  Other suggestions made were power point presentations on the web (that could be done at an employees convenience), and information on opportunities to enhance our retirement.

 

Dalton distributed a chart of benefit bidding history.  Discussion followed.  Several suggestions made were develop guidelines on how often we should go out to bid with a follow up on results, survey the industry for information and periodic review of information from the Big 12.

 

Long Term Care RFP Comm.  -  Dalton asked for representatives to work on this committee.  We want to have a carrier selection made by March in order to make this option available by July.  Lehenbauer will send out letter to solicit nominees for this committee.

 

4.         Retirement Task Force  -  A draft version of the Final Report is being reviewed.

            Lehenbauer asked that HR update us in December on legislative actions and strategic plans for the upcoming year.

 

5.        Cafeteria Plan Task Force  -  Oehrtman distributed a letter to Lehenbauer with a Cafeteria Plan Task Force Report.  The plan was approved by the committee to be forwarded to Dr. Bosserman.

 

6.         Old Business  -

                        Wellness Update  -  Purdie and McCrory distributed information on possible programs for Enhanced Wellness and Employee Assistance.  After discussion the committee asked them to give us a proposal of what they would recommend along with cost.

 

7.         New Business  -

                        Raff distributed his recommendation along with supporting documentation.  The recommendation was discussed and amended as follows: 

“The University Flex Benefits Committee recommends to Vice-President Bosserman that the policies regarding employee access to TIAA-CREF vested accounts be changed to permit all employees access to these funds in the manner best suited to their particular financial situation.  We recommend that the internal University rule requiring separation of the employee from the University as a condition for release of TIAA-CREF funds be eliminated.”

            The recommendation was approved and will be forwarded to Dr. Bosserman.

                       

                        The remaining items under new business will be held for the December meeting.

 

 

Meeting adjourned.    

 

Future meeting date -

             

            December 17th @ 3:00 p.m. in the Wellness Center