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

11 months 3 weeks 3 days ago January 29, 2016 Jan 29, 2016 Friday, January 29 2016 Friday, January 29, 2016 3:13:00 PM CST in News
By: Katie Cammarata, KOMU 8 Reporter
Embed Code Copied

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
KANSAS CITY, Mo. (AP) — Authorities say a decomposed body has been found near a bridge in a Kansas City... More >>
12 minutes ago January 23, 2017 Jan 23, 2017 Monday, January 23 2017 Monday, January 23, 2017 6:30:00 AM CST in News
LA MONTE - The Pettis County Prosecuting Attorney's Office filed charges against three men after a home invasion Saturday night.... More >>
11 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 6:47:00 PM CST in News
COLUMBIA - The MFA Oil Break Time shootout featured talented athletes from all around Missouri on Sunday. There were six... More >>
11 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 6:45:00 PM CST in News
COLUMBIA - The Columbia Police Department is looking for help identifying a truck believed to be involved in a hit... More >>
14 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 4:40:00 PM CST in News
KANSAS CITY (AP) — Royals pitcher Yordano Ventura, whose electric arm helped his team win the 2015 World Series title,... More >>
16 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 2:36:00 PM CST in News
COLUMBIA - Two people were arrested Friday in connection with a terroristic threat, according to an email from Columbia police.... More >>
16 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 2:08:00 PM CST in News
COLUMBIA - Columbia Police officers responded to shots fired early Sunday morning in Columbia, according to a news release. ... More >>
17 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 1:26:00 PM CST in News
ST. LOUIS (AP) — St. Louis police say a 20-year-old man is charged in an attack on a 12-year-old girl... More >>
17 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 12:51:01 PM CST in News
JASPER (AP) — A southwestern Missouri man is taking recycling to the extreme by building a house made from everything... More >>
19 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 11:03:00 AM CST in News
COLUMBIA (AP) — A University of Missouri professor hopes his invention of a new mug that maintains the coffee's temperature... More >>
19 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 10:56:06 AM CST in News
JEFFERSON CITY (AP) — Missouri's new governor, Eric Greitens, is pushing to give the state the country's toughest penalties for... More >>
21 hours ago January 22, 2017 Jan 22, 2017 Sunday, January 22 2017 Sunday, January 22, 2017 9:28:00 AM CST in News
COLUMBIA - The Choral Arts Alliance of Missouri (CAAM) raised more than $1,500 Saturday night for the after-school program, Granny's... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 10:15:00 PM CST in News
KANSAS CITY (AP) — Thousands of protesters, mostly women, gathered in Missouri's two biggest cities and Kansas' capital city in... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 7:44:00 PM CST in News
KANSAS CITY (AP) — A central Missouri technical college plans to ask the U.S. Supreme Court to reinstate the school's... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 7:37:52 PM CST in News
JEFFERSON CITY (AP) — Missouri Gov. Eric Greitens is making a school choice measure called education savings accounts a priority... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 7:32:26 PM CST in News
COLUMBIA — The Mid-Missouri Solidarity March was organized by area organization to support the Women’s March on Washington, D.C. on... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 6:00:00 PM CST in News
COLUMBIA — Counselors helped Columbia residents sign up for health care insurance Saturday, amid rising concern over the repeal of... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 5:02:00 PM CST in News
COLUMBIA — Stephens College hosted its first "Fallopian Fest" Saturday. Stephens College student and one of the directors of... More >>
1 day ago January 21, 2017 Jan 21, 2017 Saturday, January 21 2017 Saturday, January 21, 2017 3:54:00 PM CST in News
Columbia, MO
Broken Clouds 38°
7am 38°
8am 37°
9am 38°
10am 38°

Select a station to view its upcoming schedule:

Coming Up Next

6:00a
KOMU 8 News Today
7:00a
Today
11:00a
Rachael Ray
6:30a
King of the Hill
7:00a
Cheaters
7:30a
Cops Reloaded

Tonight's Schedule

7:00p
The Celebrity Apprentice
9:00p
Timeless
7:00p
Supergirl
8:00p
Jane the Virgin
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld