UM System retirees and soon-to-be retired may not expect same benefits

2 years 5 months 3 weeks ago Friday, January 29 2016 Jan 29, 2016 Friday, January 29, 2016 3:13:00 PM CST January 29, 2016 in News
By: Katie Cammarata, KOMU 8 Reporter
loading

COLUMBIA - The UM System president announced in a video Friday some retiree insurance programs and benefits may not be available for employees hired after January 1, 2018.

Michael Middleton said UM leadership began evaulating the sustainability of the retiree insurance programs in 2013, and the Total Rewards Advisory Committee, a committee of staff, faculty and retirees has proposed a plan to revise the current retiree insurance provisions. 

System spokesman John Fougere said the goal of the potential changes is to "maintain financial stability for the university" and to "provide access to retiree insurance benefits for as many current employees as possible."

Fougere said nothing will change until the Board of Curators takes a vote. 

The recommendation says current pension programs and voluntary employee retirement investment programs will not be affected, although retiree insurance programs may be changed.

Retiree insurance offerings will depend on the employee's length of service, age and salary level.

If agreed upon by UM System leaders, effective January 1, 2018, current retirees will still have access to the current insurance programs offered.

Current employees who are at least 60 years old and have worked for the UM System for at least 20 years would be elligible for the current insurance programs. 

Other levels of coverage would depend on an employee's age and years of service at the time of retirement.

Middleton said there will be open forums in February and March to discuss the possible changes. Leadership will be present to talk with employees, staff, retirees and others interested about the potential changes.

More News

Grid
List
JEFFERSON CITY - After eight years serving in the Missouri House of Representatives, Rep. Gail McCann Beatty's, D-Kansas City, resignation... More >>
1 hour ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 6:12:00 PM CDT July 22, 2018 in News
LAKE OF THE OZARKS - This recreational lake was just five spots shy of being the most dangerous place to... More >>
1 hour ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 5:55:00 PM CDT July 22, 2018 in News
BRANSON (AP) — A memorial service is scheduled for the people killed when a tourist boat sank in a Missouri... More >>
5 hours ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 1:39:00 PM CDT July 22, 2018 in News
SPRINGFIELD (AP) — Missouri residents may see a limited elk hunt in 2020 if the state's elk herd continues to... More >>
7 hours ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 12:16:00 PM CDT July 22, 2018 in News
(CNN) -- President Donald Trump's lawyers have waived attorney-client privilege on his behalf regarding a secretly recorded conversation he had... More >>
7 hours ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 11:49:18 AM CDT July 22, 2018 in News
COOPER COUNTY - A Blackwater man has died after being hit by a truck on Friday July 20, according to... More >>
8 hours ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 10:42:15 AM CDT July 22, 2018 in News
BRANSON (AP) — "Grab the baby!" Those were the last words Tia Coleman recalls her sister-in-law yelling before the... More >>
9 hours ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 9:59:07 AM CDT July 22, 2018 in News
IOWA CITY, Iowa (AP) — One app promotes itself as a way to discuss sensitive negotiations and human resources problems... More >>
9 hours ago Sunday, July 22 2018 Jul 22, 2018 Sunday, July 22, 2018 9:54:58 AM CDT July 22, 2018 in News
WASHINGTON (AP) — President Donald Trump's choice for the Supreme Court has given members of Congress a pile of material... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 2:52:51 PM CDT July 21, 2018 in News
WASHINGTON (AP) — The maker of a permanent contraceptive implant subject to thousands of injury reports and repeated safety restrictions... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 2:28:05 PM CDT July 21, 2018 in News
(CNN) -- The man accused of carrying out last month's deadly shooting at a Maryland newspaper has been indicted on... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 1:42:30 PM CDT July 21, 2018 in News
COLUMBIA - The 2018 Show-Me State Games kick off Friday, bringing thousands of athletes, coaches and fans from around the... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 1:15:00 PM CDT July 21, 2018 in News
ASHLAND – Seven locations throughout the state are open Saturday for parents to come and get their children I.D.’d, free... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 12:58:00 PM CDT July 21, 2018 in News
(CNN) -- Gracelyn Mae Violet Griffin already had a "Little Nugget" onesie picked out for her before she arrived in... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 12:35:28 PM CDT July 21, 2018 in News
JEFFERSON CITY (AP) — An organization backing one of three competing medical marijuana initiatives in Missouri has continued to bring... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 11:26:00 AM CDT July 21, 2018 in News
COLUMBIA - A group of Columbia moms is starting Missouri Disability Empowerment, a new organization with big goals to help... More >>
1 day ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 6:33:00 AM CDT July 21, 2018 in News
LAKE OF THE OZARKS - 64 years later, a different lake and nearly triple the death toll, the duck boat... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 9:12:00 PM CDT July 20, 2018 in News
(CNN) -- Russian intelligence operatives attempted to hack into the online accounts of staffers on three congressional campaigns in the... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 8:46:27 PM CDT July 20, 2018 in News
Columbia, MO
Broken Clouds 82°
8pm 80°
9pm 76°
10pm 73°
11pm 71°