June 2006 Benefit Committee meeting minutes

Benefits Advisory Committee:
June 20, 2006  2:00pm

Minutes of the meeting 2/13/06 were not approved pending corrections; Fran Gustavson had several corrections and I asked to include my request that HR send info about projected health contributions in October and not wait until enrollment packet is sent.  Michele stated that this may not be possible, but they will do their best.

Medical review subcommittee. 

• Subcommittee met 2 times – with consultant; will be meeting again in 3 weeks.
• Several options are being explored; there have been no recommendations for any changes
• Yvonnne Ramirez will be sending all Pace employees a progress report.
• An RFP may be going out by the Fall
• HR has found that Healthnet has an extended area of coverage. More info available shortly

Retirement Income Planning Seminars:

• New one-on-one consultations are going to be offered for those over age 50
• TIAA & Fidelity are still offering basic counseling
• If any financial counseling sessions are full, contact Michelle Russo-Ramirez and she w/try to open more sessions for employees.

Retirement Plan loans:

Currently employees can take out loan(s) from TIAA-no limit on number of loans (up to funds available) discussion on this will be continued at the next meeting pending further information

Chase Bank has acquired Bank of NY and will be offering employee/work benefits available to all.  More info will be coming from HR.