Retirement and Insurance Committee
The FRIC committee continues to oversea all of the health and retirement
plans. This year FRIC approved expanding the available investment options
offered by TIAA-CREF, including limited opportunities to invest in funds offered
by funds other than TIAA-CREF. We are also considering further expansion of
We have also recommended some changes to the disability insurance program
but have not yet received word that these have been approved by the University.
Most of our time continues to be taken with overseeing the health plans.
Our recommendation to terminate CHIP I became effective this calendar
year; we continue to closely oversee the pricing of the remaining plans. We have
recommended a three-tier prescription drug plan which we expect the University
to adopt and we are investigating other cost savings measures.
Overall we continue to be greatly concerned with the increasing
propensity to shift the cost of the health plans to employees whether through
increased premiums (even when accompanied by increases (often smaller) in flex
credits, out-of-pocket deductibles, and co-pays. The Senate’s efforts last
go-around to pressure the University to at least maintain the status quo re
contribution percentages paid off but the battle continues and FRIC encourages
the Senate to continue to provide an active, strong voice in this area.