News You Can Use!

Important Information for Employees of Oklahoma State University

March 2004

 

 

 

 

 

 

 

Goin' Fishin!  Improve Service & Job Satisfaction

April 21 - Administrative Professional Day

Turning Staff Into OSU Ambassadors

Register for the Advanced Leadership Program

Retirement Report Published, Available Online

Retirement Contributions Calendar

OTRS Legislative Update

OSU Total Compensation Cost

Payroll Advice - Watch for Changes

Long-Term Care Update

New Voluntary Supplemental Life - Double Coverage?

April 6 and 7 - Benefits Fair

2003 Flex Claims Reminder

Additional Retirement Investment Choices

 

Goin’ Fishin’!  Improve Service & Job Satisfaction

Goin’ Fishin! Get your pole, we’ve got the bait! The entire campus is invited on a Fishin’ trip - a trip to greater customer service, where everyone chooses to bring energy, passion, and a positive attitude to the job everyday. Imagine an environment in which people are truly connected to their work, to their colleagues, and to their customers.

The Fish! Philosophy program is a practical guide for helping employees understand the importance of creating a world class work environment that encourages superior service. Fish! Philosophy has been called the antidote to cynicism, depression, burnout, and anger. The Pike Place Fish Market in Seattle, Washington, demonstrates principles that transform ordinary, reactionary dispositions to superior, customer-oriented, successful people.

As an extra plus, employees who are enrolled in the Ambassador Program may take the Fish! Philosophy class for free during 2004. Don’t miss this opportunity! Enroll in the Ambassador Program today by downloading an enrollment form from the web, www.okstate.edu/osu_per/hr/training.html.

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April 21 - Administrative Professional Day

Dondi Sumari has been invited back this year for Administrative Professional Day on April 21, 2004. From past experience you can be assured that her topic Professionalism In The Eye of the Storm will be another outstanding program. This program counts as six elective hours toward the Ambassador, LDP, and ALP programs. Although this program normally costs $149, we are pleased to be able to offer it at OSU for $99, including lunch.

Check the web at www.okstate.edu/osu_per/hr/training.html or call (405) 744-5374, for more information.

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Turning Staff Into OSU Ambassadors

OSU’s Ambassador Program is designed for OSU’s front-line employees who serve as ambassadors for Oklahoma State University. This training program focuses on world-class customer service. In addition, the program creates an opportunity for staff to learn more about the university and increase their sense of ownership in the institutional mission. Over 100 staff have completed this certificate program and another 100 are currently participating.

To learn more about OSU’s Ambassador Program, check the web at www.okstate.edu/osu_per/hr/training.html or call (405) 744-5374. An enrollment form may be downloaded from the web.

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Register for the Advanced Leadership Program

Now is the time for Leadership Development Program (LDP) graduates to re-enroll in the Advanced Leadership Program (ALP).

Check us out on the web, www.okstate.edu/osu_per/hr/training.html or call Training Services at (405) 744-5374.

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Retirement Report Published, Available Online

The retirement subcommittee of the Flexible Compensation Benefits Committee has published its report of findings and recommendations for changes to the OSU Retirement Plan. The full report can be found at www.okstate.edu/osu_per/retadd.htm. Last spring, a preliminary report was shared with faculty and staff throughout the OSU system. The change to an 11percent OSU retirement contribution and changes to align OTRS retirement benefits to the current contribution schedule are included in the committee’s recommendations.

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Retirement Contributions Calculator

OSU-paid retirement contributions increased July 1, 2003. OSU pays 11% of pay toward retirement for most employees. However, employees who were in TIAA-CREF and OTRS prior to July 1993 receive a slightly different schedule. The first $1,500 of OTRS contributions is paid by OSU. Plus 10% of pay above $7,800 until pay reaches $72,000 is paid to cover the cost of mandatory OTRS with the balance paid to TIAA-CREF. The contributions increases to 11% on pay over $72,000.

Human Resources developed an Excel spreadsheet for these employees to monitor their OSU contributions. This calculator is on the web at www.okstate.edu/osu_per/retadd.htm.

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OTRS Legislative Update

OSU is promoting OTRS legislative changes through HB2226 which passed the House Committee on February 16. The bill would allow the comprehensive universities to withdraw from OTRS, allow current members a choice of whether to withdraw or remain in OTRS, and change the OTRS benefit formula to be more equitable for members of the comprehensive universities who remain in OTRS.

Although the House Committee struck the section of the bill that would improve the benefit formula for employees in the comprehensive universities who are subject to gradual uncapping, OSU’s commitment to fix the formula has not diminished. At this early stage of the legislative process, the intent is to keep the bill alive. We are currently clarifying the language in the bill to ensure that it accomplishes its intended objectives.

A draft of HB2226 is on the web at www.okstate.edu/osu_per/retadd.htm.

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OSU Total Compensation Cost

 

Total compensation as shown in the above chart includes all pay and university paid benefits for the OSU system.

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Payroll Advice – Watch for Changes

There were four deadlines for our benefit program changes for 2004. Please check the deduction side of your payroll advice to confirm that your premium deductions for health, dental, vision, long-term disability, and life coverage accurately reflect the choices you made.

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Long-Term Care Update

OSU plans to offer long-term care group coverage to OSU employees this spring. The selection committee is currently finalizing its recommendations so that Human Resources can begin working with the successful vendor on communications and implementation. The goal is to open enrollment before this semester ends. Be sure to watch campus mail for details of this voluntary program. Coverage, if selected, would become effective July 1, 2004.

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New Voluntary Supplemental Life – Double Coverage?

Did you realize that you can be covered only once under the new ING life plan—as an employee or as a spouse. So in situations where both the husband and wife are employed at OSU, you would not be allowed to cover your spouse as a spouse if s/he is covered as an employee. This was also true of the previous American Fidelity coverage. Children may be covered by only one parent under the ING plan. This is different from the American Fidelity plan which allowed both parents to cover children.

If you think that you may be paying for ineligible coverage because both spouses are employed at OSU, please contact Employee Services, (405) 744-5449, 106 Whitehurst, with questions or for assistance with changes.

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April 6 and 7 - Benefits Fair

OSU will host a Benefits Fair on April 6 and 7. You will have the opportunity to circulate among benefit vendor booths in the Student Union Ballroom on April 6 to learn more about your current benefit programs and optional investment opportunities. On both days, you can attend informational sessions regarding specific topics related to your benefits. The primary focus of the informational sessions is to provide employees with an opportunity to learn more about retirement benefits and investment opportunities. OSU has invited presenters outside of our group plan vendors to give educational presentations.

Watch for a detailed schedule in your campus mail!

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2003 Flex Claims Reminder

Remember if you have funds in your medical reimbursement flex account for the plan year that ended December 31, you have until March 31 to submit your 2003 out-of-pocket expenses. You can call American Fidelity’s automated service (1-800-325-0654) to check your account balance. Money in these accounts will be forfeited if claims are not filed timely.

Remember that a recent IRS ruling allows for over-the-counter drugs to be covered through flexible benefits. You may submit any qualified expenses with a dated, itemized receipt.

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Additional Retirement Investment Choices

OSU is one of the first universities to offer new TIAA-CREF products entitled Investment Solutions. Nine new mutual funds have been added to your TIAA-CREF investment choices through Investment Solutions.

The nine new accounts are available to all employees who receive OSU-paid retirement contributions (GRA - Group Retirement Annuity) and/or employees who voluntarily contribute to 403(b) or 457(b) tax-deferred plans (GSRA - Group Supplemental Retirement Annuity). You may also use the new accounts for funds in accounts established prior to July 1989 (RA - Retirement Annuity). However, you will need to contact TIAA-CREF at 1-800-842-2888 and ask them to convert your RA accounts to GRA accounts.

You should have received a packet in campus mail in February explaining that you can move existing accumulations, or allocate future contributions to any or all of the new funds. TIAA-CREF sent literature to your home address if you have a voluntary supplemental tax-deferred account.

If you are content with your current investment choices, no action is needed on your part.

If, however, you wish to take advantage of the expanded investment opportunities, you can make changes through TIAA-CREF’s website at www.tiaa-cref.org or through their telephone center at 1-800-842-2888.

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OSU Human Resources developed this information for the convenience of OSU employees. It is a brief interpretation of more detailed and complex materials. If further clarification is needed, the actual law, policy and contract should be consulted as the authoritative source. OSU continually monitors benefits, policy and procedures and reserves the right to change, modify, amend, or terminate benefit programs at any time.