2005-06 Issue No. 6

Patrick Munyon, Classified Benefits Coordinator phone: 687-3248 email: munyon@4j.lane.edu

---

In this issue:

• Classified Sick Leave Bank
• New TSA Opportunity for All Classified
• PEP Funds
• Retirement Insurance Benefits
• Benefit Renewal Process Continues

New Contact for Additional Benefits
As of February 1, my half-time Classified Benefits Coordinator position was increased to full-time, with some additional duties added. This time increase will be reviewed annually by the Classified Joint Benefit Committee (JBC).

I will be the new contact for several additional benefits and contractual rights. Here’s an overview, along with a short explanation of each benefit:

 

Classified Sick Leave Bank (back to top)
I’ll be processing Sick Leave Bank requests for bank members who require sick leave time, due to long-term illness or injury. The requests are reviewed by the Sick Leave Bank Committee (members listed below)

In order to be a member of the Classified Sick Leave Bank, you must join during the open enrollment period each October. (The exception: newly hired employees may join within 30 days of hire date) There is a minimum donation of one sick leave day to become a member of the bank. Detailed bank information is included with the enrollment form, which is sent to all Classified employees each year.

The bank has provided crucial financial support for members when they’ve suffered a long-term illness or injury. Protect yourself and join.

Sadly, each year we encounter Classified employees who didn’t join the bank, and have suffered a long-term illness or injury. In these cases, they have suffered severe financial loss that could have been avoided. Please keep this in mind during the next Sick Leave Bank Open Enrollment in October, 2006. This is a separate open enrollment period from the September open enrollment for medical/dental, etc.

The Classified Sick Leave Bank Committee:
Patrick Munyon x3248 (contact me for bank requests), Linda Warner x3176, Jill Simmons 485-1832, Debbie Phillips x3604

 

New TSA Opportunity for All Classified (back to top)
I’m also assisting in the implementation of a new TSA benefit that will begin effective July1, 2006. This program is still in the planning stages.

You will have the opportunity to put a small portion of your income into a Tax-Sheltered Annuity (TSA), and the district will match it with double that amount!

Here’s how it will work: The district will pay an amount equal to 1.25% of your monthly salary into a TSA account if you commit to one-half (.625%) of that amount monthly. You could choose to put in a higher percentage, but that’s all you need to commit, in order to receive the maximum district contribution (1.25%) to the account.
Examples, using sample monthly salaries:

Salary	You Pay	District Pays	Total
$1,000	$6.25	$12.50	$18.75
$1,500	$9.38	$18.75	$28.13
$2,000	$12.50	$25.00	$37.50
$2,500	$15.63	$31.25	$46.88

You will get to choose among a variety of savings plans offered by three vendors. A joint labor-management committee is currently meeting to review criteria and select the vendors.

The TSA will be a 403(b) account, as defined by the Internal Revenue Service. This new TSA would not affect any existing payroll investment contributions you may already have, unless you elect to make changes.

Mark your calendar! Learn more about Tax-Sheltered Annuities Thursday, April 13, Education Center Auditorium 12:00 p.m. and 7:00 p.m. Presentations Learn about… • Tax Sheltered Annuities, and how they work • What you need to know, in order to be an informed investor Dr. J. Harvey Carruth is nationally recognized as a 403(b) plan expert. Plan on attending to learn more about this savings option from an independent, unbiased expert in the field.

 

PEP Funds (back to top)
I will also be dealing with Classified Professional Education Program (PEP) funds. These training funds are available to classified employees for training, workshops, classes, etc. If other district funds are available to you, please use them first.

The guidelines:
• One request per year, up to a maximum of $150 reimbursement.
• If you are requesting direct payment to the vendor, you must submit your request one month prior to the event. Please include the name and address of the vendor.
• In the event that funds are remaining near the end of the year, it may be announced that a second request of up to $150 will be allowed.

Click here for a PEP fund request form.

 

Retirement Insurance Benefits (back to top)
Another service I’ll be providing: assist employees in understanding their insurance benefit options as they plan for their retirement. My assistance will be limited to reviewing insurance benefit costs, and directing members to the proper PERS contacts.

For retirement planning, it’s important to speak with an experienced financial planner of your choice. You can contact the Cascade Employee Assistance Program (EAP) at 1-800-433-2320 for a referral to a financial consultant.

The PERS workshops are a good place to start learning more about retirement. PERS offers separate workshops (at no cost) for:
• Tier One members within five years of retirement
• Tier One members within one year of retirement.
• Early Career Planning for Tier Two members and OPSRP members

The definitions:
Tier One members were hired before Jan. 1, 1996
Tier Two members were hired on or after Jan.1, 1996
OPSRP members were hired on or after Aug. 29, 2003

If you have questions about PERS, please visit their website or contact PERS Customer Service. The PERS toll-free Customer Service number is: 1-888-320-7377. The PERS web site address is: http://www.oregon.gov/PERS

Click here to review the PERS classes, times and locations. You can also get a variety of forms and publications online at the PERS web site.

 

Benefit Renewal Process Continues (back to top)
At our March 17 meeting, the Classified Joint Benefit Committee (JBC) will be reviewing benefit renewal proposals for medical, dental, life, and long-term disability insurance. These proposals will be for the plan year beginning October 1, 2006.

Medical insurance is by far our biggest cost driver. As with the past several years, we will be comparing ODS rates and plan design with rates and plans in the OSBA Trust.

Regence Blue Cross/Blue Shield of Oregon is the insurance carrier for the Trust. As you may be aware, our Certified and Administrative employees have been in the Trust since October of 2003.

In a rare move, the OSBA Trust has made an early commitment to cap cost increases at 7% for the next plan year. This will allow us an earlier than usual opportunity to compare projected rates with those of ODS.
“Stay tuned” for more information as it becomes available.