Division of Finance & Enterprise Services
Post-Retirement Medical Benefits Update
- By Richard Cate
July 2, 2012
To: Non-Represented Faculty and Staff
From: Richard H. Cate, Vice President for Finance and Administration
Re: Post-Retirement Medical Benefits Update
At the end of the calendar year, I wrote to communicate the essence of changes in Post-Retirement Medical Benefits, to take effect on July 1, 2014. In the ensuing months, we have refined the description of the changes as we worked through the final details of agreements with UVM’s collective bargaining representatives.
While we believe we have responded to the questions posed by the University community regarding administration of changes to this complex benefit, we will continue to refine the information that is available to you through the Human Resource Services PRMB website. The website has been updated to clarify the details of the post-retirement medical benefit that now apply to both represented and non-represented faculty and staff; I suggest that you visit the site for further information.
I encourage you to make an appointment to meet with an Employee Advisor in Human Resource Services (656-3150) if you want to discuss the impact of these benefit changes on your own plan for retirement. In addition, representatives of UVM’s retirement plan vendors, TIAA-CREF and Fidelity, are available on campus regularly to meet with you to review your retirement savings account.
For faculty and staff who are represented by unions, a description of Post-Retirement Medical Benefits is included in the applicable collective bargaining agreement.