The University Record, May 8, 1995

Check your benefits report to plan ahead for flex

By Sue White
Benefits Office

The annual benefits report was mailed to faculty and staff May 1. Published by the Benefits Office, the report identifies each staff member's individual benefits package and provides a statement of costs of those benefits to both the staff member and the University.

Benefits shown are based on each staff member's personal situation as of Dec. 31 and Jan. 1, as indicated on the statement. Any plan participation or appointment changes since then are not shown on the statement.

As the University begins the era of flexible benefits, it is important that staff members understand their benefits package. This is the time to review and audit your benefits coverage to prepare for the fall open enrollment period. Understanding current benefits will enable faculty and staff to make informed decisions then.

Benefits are an important part of overall compensation. A survey conducted by the Benefits Office showed that 57 percent of compensation for staff members earning $10,000 or less is benefits. For staff members earning $30,000 or less, benefits are about 33 percent of their total compensation.

Faculty and staff members who have questions concerning the information contained in the annual report should call the Benefits Office. Representatives will be happy to answer questions. Call 763-1214 (Central Campus) or 764-6584 (Medical Campus), 7:30-5 p.m.

If you change your address, call Staff Records, 764-9250, and give them your address change over the phone. This is particularly important if you move during the summer and your department does not receive your correct address until September. Changes of address received in September will not be available in time for the Benefits Office to mail your open enrollment materials.