Word: pension
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...report released earlier this month, nearly six months late, the task force recommended a series of changes to the faculty and staff fringe benefits program, which includes health insurance and pension...
...yesterday's full faculty meeting, irate professors spent an hour and a half describing the harmful effects of pension deduction and imploring the administration to reconsider the changes...
Health and pension benefits are then paid out of this fund. Although a constant flow of funds is being deposited, the amount spent fluctuates annually, depending on the demographic mix of University employees, the cost of health care and the status of the economy...
Currently the benefits pool is about $150 million. Health, pension and Social Security costs absorb about 90 percent of these funds...
While the changes do not make the exempt staff part of the faculty plan, the staff pension plan will be enhanced...