UM System Faces Retirement Changes

9 years 3 weeks 1 day ago Thursday, September 23 2010 Sep 23, 2010 Thursday, September 23, 2010 8:03:51 PM CDT September 23, 2010 in News
SPRINGFIELD - The University of Missouri System reexamined its retirement plan on Thursday at its curators meeting in Springfield. UM Vice President of Human Resources Betsy Rodriguez presented the Retirement Plan Project Update. The presentation consisted of a review of the current system and a look at expectations for the future.

UM directors believe they have a good retirement plan, especially in comparison with others. Rodriguez said,"The plan is unique from its peers" because of its defined benefit plan and guaranteed retirement.

Rodriguez stressed the fact that there is no new plan or changes to the existing plan yet. Thursday's meeting served as a place to generate questions.

Faculty members are anxious over the decision, but said they are willing to give it the time and attention a serious decision deserves. MU Faculty Council member Bill Wiebold said, "I think we want to take enough time to think through all of the ramifications of what a change would be, but also it's unsettling. I think having it done reasonably quickly, would make some sense."

UM System organizers said they are taking their time to make the right decision for its current and future employees. Wiebold said, "My understanding is there will be a report to the curators in December."

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