Minutes of the Benefits Committee meeting
March 21, 2000
Absent: Paula Ebbitt, Elaine Fadden, Greg Finnegan, Beth Holmes, Suz-Ann Olofson, Ann Whiteside
1. Emily reported that the link to EBRI ("Employee Benefit Research Group - Links to Resources") on the Benefits Committee Web page was broken. Malcolm said that Polly Price thought membership was not cost effective, and that might be the reason we could no longer connect.
2. Emily has requested a copy of the new edition of "Guide to Benefits and Services for Administrative and Professional Staff" for each of us. Malcolm reported that it was not yet back from the printers.
3. Benefits Committee sponsored museum tours: Amy suggested, and the rest concurred, that this was out of scope for our committee. It would more appropriately be handled by the Communications and Orientation Committee if they wished to do so.
4. Program on financial planning: Possible dates are April 25, 27, or 28, with a preference for morning.
The kinds of questions we would like addressed include:
Why would you need a financial planner?
How to choose a financial planner
How much will it cost?
What should the financial planner's credentials be?
Emily will contact Paul Zizzo, who will in turn contact Jean Younger of TIAA-CREF. She would not push TIAA-CREF products. Malcolm said that TIAA-CREF has a brochure on choosing a financial planner. We would want this to made available at the session. Emily will also contact Lynn Sayers about reserving the Lamont Forum Room and Crimson Catering about providing refreshments.
5. Future programs on financial planning:
Representatives from Fidelity, Scudder and Vanguard could also be asked to make presentations, again under the condition of not pushing their own products.
Kyle Upton's services are free to faculty and would be available to us at a nominal charge. The impending change in the retirement plan for exempt staff may increase the demand for her kind of expertise.
6. Benefits Committee membership: Terms expire just before the fall Librarians' Assembly, so those whose terms end in 2000 will serve well into this year. Four new members will be needed to replace those whose terms expire in 2000. Three of the new members would have a three year term and one a two year term.
Next meeting: April 18 at 9:00 AM in the main dining room at the Faculty Club.