August 28, 2002

Dr. David C. Bosserman
Interim Vice-President for Business and Finance, and Controller 206 Whitehurst Hall
CAMPUS

Dr. Bosserman, 

As you are well aware, the office of Vice President for Business and Finance has had an integral part in the restructuring and additional charge given to the Flexible Compensation Benefits Committee (FCBC). As such, our committee feels it is imperative that recommendations and suggestions made by our committee be sent through this office for further consideration and implementation. In an effort to update you on our current actions, I am providing by separate attachment copies of recent documents prepared for President Halligan and Judge Morris containing specific recommendations regarding the participation of OSU faculty and staff in the Oklahoma Teacher's Retirement System. During the FCBC meeting of 21 August 2002, members accepted this current status report from our Retirement Subcommittee and requested your office be provided copies of this report.

One additional item that has yet to be acted on is the recommendation to uncap sick leave for employees who reach over the current 1600-hour cap of accrued sick leave. Any unused sick leave accrued in excess of the 1600 hour cap is forfeited. If employees who were at 1600 hours had to use sick leave at some point during their career, they might not have enough built up (960 hours) to qualify for an extra year of OTR service upon their retirement. (Note- using sick leave to account for one year of OTR service is only available to those who entered OTRS prior to 7/1/92). As you may be aware, NEO has provided this for their employees for several years.

If the Flexible Compensation Benefits Committee can provide you with additional information or clarification of issues, please know that we are available.

Greg L. Fox, Chair

Flexible Compensation Benefits Committee