The EBAC consists of the following members:
1. Assistant Vice President for Finance/Controller – Jeanne DeMatteo (RBS only)
2. Assistant Vice President, Human Resources, Committee Chair – Eduardo Salaz
3. Faculty Welfare Committee Members – Ted Tsukahara, Jim Temple, Jessica Kitner
4. Staff Council’s Compensation and Benefits Committee Members – Jane Joyce, Collin Pugh, Carole Wolf
5. Director of Benefits – Ann Kelly
6. Provost or Her/His Designee – Richard Carp
7. Vice President for Finance – Pete Michell
As part of our commitment to increase transparency and communication we have completed this year-end report for your review. This report along with other key EBAC content has been placed on the HR web site Benefits section under EBAC. In addition we have included information on the Retirement Benefits Subcommittee (RBS) at the bottom of the launch site page under subcommittees and created a separate section under EBAC. All future RBS minutes and content will be placed in this separate section. We welcome your feedback and look forward to a productive year in FY' 14-15.
Overview / Year in review
The FY 2013-2014 was extremely busy for the EBAC and saw a significant number of initiatives and including:
- Formal evolution of the HIRC (Health Insurance Review Committee) to the EBAC (Employee Benefits Advisory Committee) was completed. The formal memorandum is attached.
- A sub-group of the EBAC which would focus on retirement plan issues was discussed and agreed on identified as the Retirement Benefits Subcommittee (RBS) of EBAC. The final memorandum initiating this group is available on the EBAC website. To date, there have been several RBS meetings held with the College’s financial services advisor regarding retirement investment performance and options.
- Ongoing review and discussion of the impact of the ACA and the many healthcare reform initiatives affecting the college. The EBAC received reports from the special ACA working group set up by HR to implement the administrative features of the new law.
- Reviewed the new and expanded flexible spending account (sec. 125) program, including the new Sec. 132 commuter benefit. Implementation took place during the 2014 open enrollment process.
- Reviewed and updated the Tuition Exchange and Remission policies to be more in-line with peer /participating member institutions.
- Reviewed proposals for dependent care programs, and directed/reviewed results of an on campus survey to determine the feasibility of adding a program. It was determined to postpone any action on this initiative to a future date.
- Completion of the 2014 insurance plan renewal process. This was particularly challenging this year because the medical renewals average was 13.2% but the SMC budget only allowed for an 8% increase. The review included consideration of several alternative plan designs which were not pursued.
- Collaborated in the development of a revised contribution formula for benefits costs. The revised contribution formula supports each HMO plan with the same percentage of College/employer contribution; 90% for employee only coverage and 70% for dependent coverage. While this process was at times contentious there was, after a lot of collaboration and discussion and many hours of meetings, consensus and understanding. This begat the review and subsequent revision of our basic principles/tenets.
- An in-depth review of the basic tenets and principles was the primary focus of the 2014 spring semester. A number of meetings and discussions were held where the initial tenets (from 2006) were reviewed and updated. This was important work with the final document a true collaboration. The final tenets are both set up on the EBAC website.
- Expand community involvement, especially around the newly developed tenets and enhanced transparency and communication.
- Review of the current health plan structure including going out to market for coverage’s provided by all current vendors to confirm both their competitiveness and appropriateness for the college.
- Continue to track how the ACA will impact the College and stay ahead of new and emerging requirements.
- Investigate, review and implement a wellness strategy for the College as a way to enhance the employee health and wellness and mitigate the growing cost of claims.
Assistant Vice President, Human Resources; EBAC Chair