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The Committee on Sustainable Health Benefits (COSHB) and the Committee to Study Retirement Savings Plan Vesting Options have completed their work. They were successful in devising the means to maintain our highly competitive health care and retirement benefits while curbing our long-standing rate of benefit cost increases.
COSHB was charged to make specific recommendations to achieve a new aggregate cost-sharing ratio for health care of 70 percent contribution from the University and 30 percent contribution from employees and retirees. This ratio is closer to that of peer universities and health systems. The retirement savings committee was charged to recommend waiting periods and/or vesting options for future employees.

Implementation of the recommendations will achieve University goals and:

  • Preserve access to U-M health plans for everyone who is currently eligible for benefits.
  • Continue our choice of comprehensive plans without reducing or altering coverage.
  • Help make the costs more affordable for those earning lower wages through a smaller increase in premiums.
  • Protect children with rates lower than the rates for dependent adults.
  • Maintain the current contribution percentage to retirement savings with no impact on current faculty and staff.
  • Keep our benefits at or above the market averages for our peer universities and health systems.

After careful study of the committee reports, the University’s executive leadership has adopted an action plan for phased implementation of the recommendations, beginning Jan. 1, 2010.

Letters to the Faculty and Staff Community

03.20.09     Health Care and Retirement Savings Plan Changes

11.21.08     Stewardship of Benefits Information Forum

09.04.08     Committees to Study Health Care and Retirement Benefits

News

04.06.09     Benefit changes discussed at campus forums

03.20.09     What leaders are saying about the need for change

12.09.08     Forum: U-M committed to affordable health care

11.26.08     Campus benefits information forum set

09.09.08     New committees to recommend future benefit changes

09.09.08     University searches for remedy to mounting health care costs