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2013 Benefits Briefing

2013 Benefits Briefing. Presentation to Board of Regents November 15, 2012. Faculty Comp Model 1 Year to 100% Market . Staff Compensation Model 1 Year to 100% Market. 2012-2013 Operating Budget. Total Operating Budget $135,700,000

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2013 Benefits Briefing

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  1. 2013 Benefits Briefing Presentation to Board of Regents November 15, 2012

  2. Faculty Comp Model1 Year to 100% Market

  3. Staff Compensation Model1 Year to 100% Market

  4. 2012-2013Operating Budget • Total Operating Budget $135,700,000 • Total Personnel Budget (56.8%) $77,091,204 Note: Personnel Budget includes all salaries & fringe benefits

  5. 2011-2012 Actual Salaries & Benefits by Division

  6. Types of Benefits • Health Insurance • Dental Insurance • Life Insurance • Vacation Days • Holidays • Sick Leave • Tuition Assistance • Fitness Center Membership • Retirement: • KTRS • KERS • ORP • FICA • Medicare • Social Security • Workers Compensation • Unemployment Insurance

  7. 2011-2012 Expense by Benefit

  8. 3 Categories of Employees • Hourly employee working 8 hours per day at $12.19 per hour ($25,355 annually) • Mid-level exempt professional employee with $50,000 annual salary • Senior level employee with $103,259 annual salary

  9. Cash and Non-Cash Benefitsby Employee Category

  10. Expense by Benefit- Hourly Employee

  11. Expense by Benefit- Mid Level Employee

  12. Expense by Benefit- Executive Level

  13. Healthcare 2013 • Strategy • Provide the best competitive healthcare for the lowest premium/cost • Accomplish this by involving all employees and dependents in becoming healthier, improving their lives and therefore reducing claims & premiums • Focus incentives on continually improving results

  14. Healthcare 2013 • 0% increase in Anthem rates for 2013 • Continues a desired trend in rates indicating positive effect of wellness. MSU annual increases National Trend • 8.17% increase 2008 9.4% • 6.23% increase 2009 9.2% • 7.00% increase 2010 9.0% • 4.36% increase 2011 9.0% • 0% for 2012 8.5% • 0% for 2013 7.0% est.

  15. Healthcare 2012/13 Annual Premiums • 2012 total actual premium $7,166,965 and HRA $792,400. • 2012 actual annual University premium including $792,400 HRA, $5,518,563

  16. Healthcare Rate Considerations for 2013

  17. Workers Compensation • Remain fully insured with KEMI (Kentucky Employers’ Mutual Insurance) • 14.5% further reduction in premium for 2013 • 2013 Premium $208,668 • 2012 premium $243,973 • 2011 premium $255,233 • 2010 premium $317,715 • 2009 premium $746,340

  18. QUESTIONS?

  19. Hourly Employee Benefit Comparison to EKU

  20. Hourly EmployeeBenefit Comparison to St. Claire

  21. Retirement System Employer Rates with Projections

  22. Retirement System Employer Rates with Projections Actual Projected

  23. Full-Time Faculty and Staff by Gender

  24. Employee Demographics

  25. KERS Employees

  26. KTRS Employees

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