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Minutes of the Benefits Committee meeting

February 17, 1999



Present: Paula Ebbitt, Greg Finnegan, Beth Holmes, Amy Kautzman, Laurie Taylor-Teran (notes), Ann Whiteside (chair)

Absent: Elaine Fadden, Malcolm Hamilton, Emily Moss

Guests: Michelle McNeil (PFE), Brian Duffy (PFE)

Business:

The Benefits Committee met in Holyoke 821 at 9:00 am on February 17, 1999.

Michelle McNeil and Brian Duffy, from the Personal Financial Education Group (PFE), joined the meeting to discuss the upcoming workshop on March 17, 1999. Michelle and Brian gave us an overview of the presentation to make sure it matched the expectations of the members of the Benefits Committee.

The workshop they will present, Planning Your Financial Future, is designed for employees of all ages and incomes, to help them understand their own financial responsibility for investing in their future. Michelle and Brian pointed out that Harvard University has a very complex (and confusing!) retirement plan. Very few employees are participating in the TDA Plan. There appears to be a great need for a workshop like this at Harvard.

PFE will be presenting two workshops: Basics of Money Management and Planning Your Financial Future, both sponsored by the Committee on Training and Development (CTD). The latter will be very similar to the workshop sponsored by the Benefits Committee. The CTD workshops cost $20 each. The March 17 workshop, organized by the Benefits Committee, will be free of charge.

Michelle and Brian gave us an overview of the workshop. There will be 20-30 people who can attend each workshop. Every participant will receive a workbook, which includes worksheets and information on investment strategies, different plans offered by Harvard, retirement medical plans, and calculating post-retirement medical expenses. PFE will explain what a 403b plan is and how it is different from the staff retirement plan. Participants will be able to take the workbook home to work on their own financial planning.

The Benefits Committee members agreed to send an email message to HUL Info and the HCL listserv, as well as contacting library directors to spread the information about the workshop on March 17. This workshop will be open to both exempt and non-exempt library staff. We will also post an announcement on the Benefits Committee Web Page (http://hul.harvard.edu/assembly/benefits/).

The next meeting is tentatively scheduled for March 24, 1999 at 9:15 am.


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