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Indiana State University
	

	

University Faculty Senate

September 28 2007 Minutes
 
	

Indiana State University
Faculty Senate 2007-08

FEBC

 

     

Meeting Date: Sept. 28, 2007                   Meeting Venue: Room 286, Holmstedt Hall

Meeting Time: noon

Members Present: H. Chait, , K. Gaul, L. Maule (Chair), T. Mulkey, L.                   Rosenhein, S. Shure, A. Sinha,

Absent: K. Bolinger, S. Eley

Executive Liaison: J. Hughes                         

Ex-Officio: M. Green

Guest:  C. Barton

 

1.  K. Gaul moved to approve the minutes of Sept. 10, seconded by A. Sinha.  The motion passed by acclamation.

 

2.  C. Barton spoke to the possibility of increasing disability benefits.  She distributed a summary of options related to percent of salary covered; and reducing the years of service required for disability retirement and post-retirement health benefits.  Our current disability insurer could change the income protection level from 60 to 66.67% with additional cost to the University.  There is the option of identifying other companies that would allow individuals to purchase an extra 15% of coverage for a total of 75%.  She will make a request to begin a process of obtaining RFPs from other carriers to see if an improved disability benefits plan can be instituted.

            Barton also noted that relatively few employees currently receive disability and in her estimate it would not be a significant financial burden to the University to reduce the requirement for eligibility for disability with retention of health benefits from 20 to 15 years of service.

 

3.  C. Barton was asked for information about a report of “reversion” of “favorable variance” monies in the fringe benefits budget.  She explained reasons for keeping a reserve in this fund; and said that no funds associated with health benefits were transferred to other types of expenditures.  L. Maule will ask G. Floyd for more information about money that was transferred to Capital and Major Repairs.

 

4.  S. Shure asked about the process for determining changes in the ISU retirement medical plan.  M. Green described the committee that was being formed, and stated that their work did not have to be finished this year. 

 

5. C. Barton answered other questions from committee members about prescription coverage.  T. Mulkey reported that he spoke with Anthem and established that their computer system should now be working.

 

The meeting was adjourned at 1:10 pm.

 

 

 

 

 

 

Last modified: September 11, 2008

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