The University Benefits Advisory Council (UBAC) serves in an advisory capacity to the administration concerning policies and decision-making processes that bear on the full range of employee benefits programs at UVM. The UBAC is responsible to "review and evaluate the University's benefits programs and to make recommendations to the President and Provost with regard to the modification of existing employee benefit plans and the design of any new benefit programs."
Read the full text of the charge given at the creation of the University Benefits Advisory Council in 2007.
In the spring of 2010, the UBAC expressed its guiding principles for any discussion related to the GASB45 accounting standards and Post-Retirement Medical Benefits (PRMB) as:
In May 2010 President Fogel charged the Council to review Post-Retirement Medical Benefits and return an advisory report to him by September 29.
The University Benefits Advisory Council has completed their Advisory Report to the President on post-retirement medical benefits. The final version includes all of the UVM community feedback received during the comment period which ended October 4.
The October 27 campus information sessions included a presentation which may give helpful background to understanding the post-retirement medical benefit discusion. Other information may be culled from among the UBAC Meeting Materials.
See a brief summary of the proposed agenda for each meeting.
The Health Insurance Working Group will meet on:
Info relevant to the Post-Retirement Medical Benefits discussion:
The Government Accounting Standards Board Statement 45 is a financial reporting guideline that requires certain institutions to report unfunded liabilities associated with post-retirement medical benefits. See:
Each of the following links goes directly to the post-retirement benefits section of the appropriate plan:
Comments and Questions can be e-mailed to firstname.lastname@example.org.