Minutes of Benefits Advisory Committee (BAC): March 29, 2012
Attending: Amy Diehl, Heather St. Germaine, Yaniris Fernandez, Nancy Booth, Steven Roof, Lise Sanders, and in a consulting role, David Hoffmann (Strategic Benefits Advisors - SBA)
I. Nancy Booth introduced herself to members Steve Roof and Lise Sanders.
II. Health Care bidding - David talked about our billed premium versus total costs over the past 12 month period which is showing a 90.56% loss ratio which is higher than average. He will continue to monitor but we are trending around a 7% increase this year.
III. Early Retirement Incentive - Jerry was unable to attend, however a handout on the program outline was circulated for the committee to review and provide feedback. This will be an agenda item in May.
IV. Student Loan Forgiveness: Amy presented some great information relating to potential student loan forgiveness if working at a non-profit. This has no action from the college other than to inform everyone of the benefit guidelines. Amy has volunteer to draft up a communication piece in advance of our next meeting.
V. Faculty FMLA. Lise provided a handout of the latest draft of the policy for the committee to review. The goal is to present to Faculty as a motion next Tuesday for a vote in May. A few minor language changes were discussed. Nancy to review with Shelly about steps to finalize.
VI. Employee Benefit Survey -Dave was pleased to report a 55% response from Faculty and Staff. Overall Hampshire College benefits are valued by everyone and are satisfied with the various access routes to obtain information. The committee will be reviewing and breaking down the comments for any potential changes and will report back to everyone soon.
VII. Parents in a Pinch: Lynne Satlof-Karas was conferenced in and presented their services which provides in-home backup for child and elder care. There would be an annual fee to the College as well as a fee charged to the employees for the service. Fees paid by the employee are for the caregiver. She continued to describe the details of the program and will provide references and forward along examples of marketing materials for the committee to review. We will continue to discuss.
VIII. Committee Charge - Nancy to review the committee Charge and summarize the details at the next BAC meeting
Upcoming meetings:
Our April meeting has been moved to May 3, 9:00 - 10:30 am due to the Inauguration