About half of current faculty and staff will be affected by new eligibility rules for retiree health benefits that go into effect on July 1, 2013. These rules were approved by the Regents in December 2010 as part of a series of reforms to address the $14.5 billion unfunded liability in the retiree health program, and to help sustain the long-term viability of the program. The Regents also approved a new pension tier for employees hired or re-hired July 1, 2013 and later. The new pension tier does not apply to current employees unless they leave employment and return at a later date. More>
Posts Tagged ‘Benefits’
On Thursday, May 2, the Lab will host an experiential workshop on Mindfulness Based Stress Reduction (MBSR) techniques for managing stress. Based on the research of John Kabat-Zin, MBSR techniques have been shown to positively impact stress, anxiety, pain and markers of immunity. Designed to increase awareness while reducing stress-related problems, this simple approach can be easily learned and applied in the workplace and at home. The workshop will be held at noon in Perseverance Hall, led by Genee Jackson, a counselor at UC Berkeley’s CARE Services. More>
Starting April 1, retiree health coverage processing and inquiries will be handled by the University of California Office of the President’s Retirement Administration Service Center (RASC) in Oakland. In addition to the RASC unit supporting the retirement services for our Lab employees, RASC will also be providing support for our Lab retirees and their eligible family members/dependents concerning their UC-sponsored health benefits coverage, including Medicare benefits coordination. Contact RASC at 800-888-8267, M-F, 8:30 a.m. to 4:30 p.m.
Last week, Fidelity mailed a personalized fund statement and decision guide to all employees affected by the upcoming changes to the UC Retirement Savings Program investment fund choices, set to take effect on March 28. Detailed information regarding the Fund Menu Management program can found here. You can also access links to the new streamlined investment menu and Decision Guide from this page or sign up for an online tutorial or attend a webinar. If you have any questions, contact Fidelity directly at (800) 558-9182.
Do you still have unused health care and/or dependent care funds left in your Flexible Spending Account (FSAP)? If so, you have until March 15 to to spend them. Submit reimbursement requests for eligible expenses (incurred between January 1, 2012 through March 15, 2013) by April 15. All claims and supporting documentation must be submitted online, faxed, or postmarked by this date. IRS rules state that 2012 plan year funds left in your FSA after the end of the run-out period will be forfeited.
A Bright Horizons representative will be in the cafeteria lobby on Thursday, March 7, from 11 a.m. to 1:30 p.m. to share information about their back-up care program. Stop by and enter a raffle for a chance to win a $50 gift card. Bright Horizons provides employees with temporary child and adult/elder care for up to 15 days per calendar year. Center-based childcare is $15 per child per day. In-home child and adult/elder care is $6 per hour. More>
The Lab’s HR Benefits Office is offering several retirement education classes conducted by Fidelity Retirement Services. The workshops will help employees learn about investing for retirement and the steps they can take to help ensure retirement readiness. These classes are free and open to all. All take place tomorrow in Perseverance Hall.
8:30 a.m. — Getting on the Right Path with your Workplace Savings
9:30 a.m. — Understanding Fund Menu Changes
10:30 a.m. — Accessing your Account
Stop by the cafeteria lobby tomorrow between 11:30 a.m. and 1:30 p.m. to learn more about the Bright Horizon’s Back-up Dependent Care Program, sponsored by the HR Benefits Office. With the upcoming President’s Day school holiday, you may be in need of back-up care, so learn how to take advantage of this Lab-subsidized service. Click here to read the February Bright Connections newsletter that has links to webinars and other resources that may be valuable.
The HR Benefits Office has updated their calendar to include offerings for the month of February. Events include Fidelity Retirement Savings Program financial educational presentations, New Employee and New Postdoc Benefits Orientations, and an information desk in the cafeteria lobby to promote the Bright Horizon’s Back-up Dependent Care Program and other Family Care Options. The listings are on Google calendar, so you can add the events directly to your calendar. Go here to see the full listing.
Though the annual Open Enrollment period for UC-sponsored benefits is still months away, the university has begun its annual project to evaluate health and welfare benefits and find ways to reduce costs for the university, employees and retirees. This year, systemwide Human Resources will consider proposals from new and current medical plan vendors in an effort to limit cost increases while continuing to provide high quality medical insurance plans to employees and retirees. More>
More UC news is available in the most recent edition of the “Our University” employee newsletter.