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

4 years 1 month 4 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
MORGAN COUNTY - Morgan County Health Center (MCHC) posted to their Facebook page to let residents in the area know... More >>
10 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 9:32:20 PM CDT March 28, 2020 in News
JEFFERSON CITY - State Representative Joe Runions is continuing his recovery from COVID-19 at home. On March 20, the... More >>
13 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 6:39:00 PM CDT March 28, 2020 in News
JEFFERSON CITY (AP) — Gov. Mike Parson is appointing Nodaway County Associate Circuit Judge Doug Thomson of Maryville to the... More >>
13 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 6:05:51 PM CDT March 28, 2020 in News
FULTON (AP) — A church in Fulton held its first drive-in services in its parking lot as it practices social... More >>
14 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 5:55:00 PM CDT March 28, 2020 in News
CHARITON COUNTY - As more testing is done, more people are confirmed positive for COVID-19. Chariton County placed a stay-at-home... More >>
14 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 5:24:00 PM CDT March 28, 2020 in News
JEFFERSON CITY - More surgical masks, gloves, gowns, face shields and other equipment is being sent to healthcare facilities around... More >>
15 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 4:29:00 PM CDT March 28, 2020 in News
JEFFERSON CITY - People in Jefferson City and the surrounding communities woke up to damage that some have never seen... More >>
15 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 4:17:00 PM CDT March 28, 2020 in News
O'FALLON (AP) — The death of a person in St. Charles County from the coronavirus is the 10th in Missouri.... More >>
16 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 3:52:00 PM CDT March 28, 2020 in News
AUDRAIN COUNTY - A potential exposure of COVID-19 at Mexico Middle School might have occurred the last two days of... More >>
17 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 3:00:00 PM CDT March 28, 2020 in News
COLUMBIA — As state and commercial testing is more available for the Missourians, the number of confirmed cases is rising.... More >>
18 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 2:00:00 PM CDT March 28, 2020 in News
JEFFERSON CITY — Gov. Mike Parson announced Friday that the Missouri National Guard would be mobilized to help with the... More >>
19 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 12:31:00 PM CDT March 28, 2020 in News
TOPEKA, Kan. (AP) — Kansas Gov. Laura Kelly has issued a statewide order for people to stay at home as... More >>
19 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 12:09:00 PM CDT March 28, 2020 in News
AP — Something was wrong. The chow hall line at New York’s Rikers Island jail had halted. For three hours,... More >>
19 hours ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 12:04:41 PM CDT March 28, 2020 in News
COLUMBIA - As COVID-19 spreads, KOMU 8 will continue to update you about the impacts on the community. KOMU... More >>
1 day ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 7:55:00 AM CDT March 28, 2020 in News
(AP) — The number of confirmed coronavirus infections worldwide topped 600,000 on Saturday as new cases stacked up quickly in... More >>
1 day ago Saturday, March 28 2020 Mar 28, 2020 Saturday, March 28, 2020 7:43:00 AM CDT March 28, 2020 in News
PARIS (AP) - Health workers in Paris received a massive show of appreciation thanks to the Eiffel Tower. The... More >>
1 day ago Friday, March 27 2020 Mar 27, 2020 Friday, March 27, 2020 11:47:00 PM CDT March 27, 2020 in News
BOSTON (AP) - States are imposing new restrictions for travelers from the New York area, the epicenter for the nation's... More >>
1 day ago Friday, March 27 2020 Mar 27, 2020 Friday, March 27, 2020 11:45:00 PM CDT March 27, 2020 in News
GREENE COUNTY - The Springfield-Greene County Health Department is "epi-linking" COVID-19 cases. A person's case is epi-linked if they... More >>
1 day ago Friday, March 27 2020 Mar 27, 2020 Friday, March 27, 2020 10:46:00 PM CDT March 27, 2020 in News
Columbia, MO
Broken Clouds 47°
9am 50°
10am 52°
11am 54°
12pm 57°