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

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Presentation on theme: "2013 Benefits Briefing Presentation to Board of Regents November 15, 2012."— Presentation transcript:

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

2 Faculty Comp Model 1 Year to 100% Market

3 Staff Compensation Model 1 Year to 100% Market

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

5 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 Expense by Benefit

8 3 Categories of Employees 1. Hourly employee working 8 hours per day at $12.19 per hour ($25,355 annually) 2. Mid-level exempt professional employee with $50,000 annual salary 3. Senior level employee with $103,259 annual salary

9 Cash and Non-Cash Benefits by 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 % 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 % 6.23% increase % 7.00% increase % 4.36% increase % 0% for % 0% for % est.

15 Healthcare 2012/13 Annual Premiums 2012 total actual premium $7,166,965 and HRA $792, 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 Employer Contribution Employee Contribution CategoryBenefitMSUEKUMSUEKU Cash Outlay InsuranceHealth Insurance$7,272$7,575$3,588$5,239 Wellness Incentives$500$0 HRA Contribution$1,150$0 Dental Insurance$300$152$480$809 Life Insurance$39 $0 RetirementKERS %$5,986 $1,268 Legally RequiredSocial Security - 6.2%$1,572 $1,065 Medicare %$368 Workers Compensation$182 $0 Unemployment Insurance$90 $0 Non-Cash Outlay Paid LeaveVacation Days$1,755$1,950$0 Holidays$1,658$1,560$0 Sick Leave Days$1,170 $0 OtherFitness Center Membership$240$0 $180 Tuition $276/cr$4,968$4,575$0 TOTAL$27,250$25,119$6,769$8,929 % of Base pay107.47%99.47%

20 Hourly Employee Benefit Comparison to St. Claire Employer Contribution Employee Contribution CategoryBenefitMSUSt. ClaireMSUSt. Claire Cash Outlay InsuranceHealth Insurance$7,272$14,100$3,588$3,736 Wellness Incentives$500$0 HRA Contribution$1,150$0 Dental Insurance$300$403$480$403 Life Insurance$39$0 $192 RetirementKERS %$5,986$1,268 Legally RequiredSocial Security - 6.2%$1,572 $1,065 Medicare %$368 Workers Compensation$182 $0 Unemployment Insurance$90 $0 Non-Cash Outlay Paid LeaveVacation Days$1, PTO days $2,633 $0 Holidays$1,658$0 Sick Leave Days$1,170$0 OtherFitness Center Membership$240$0 Tuition $276/cr$4,968$2,763$0 TOTAL$27,250$23,378$6,769$7,032 % of Base pay107.47%92.20%

21 Retirement System Employer Rates with Projections KTRS KERS (Non- Hazardous) KERS (Hazardous) 2006/ %7.75%22.00% 2007/ %8.50%24.25% 2008/ %10.01%24.35% 2009/ %11.61%24.69% 2010/ %16.98%26.12% 2011/ %19.82%28.98% 2012/ %23.61%35.89% 2013/ %32.31%49.12% 2014/ %41.00%62.32%

22 Retirement System Employer Rates with Projections ActualProjected

23 Full-Time Faculty and Staff by Gender FacultyStaffTotal Female19051%44957%63955% Male17949%33443%51345% Total369100%783100%1,152100%

24 Employee Demographics CategoryTotal # of Employees Full-Time Employees1,152 Faculty369 Staff783 Salary Employees802 Hourly Employees350 1,950 Hour Positions158 2,080 Hour Positions185 Salary Under $50, KERS419 KTRS775

25 KERS Employees KERS Description Total # Employees Employee Contribution Employer Contribution KERS Non-Hazardous3165%23.61% KERS Non-Hazardous on/after 09/01/08 856%23.61% KERS Hazardous148%29.79% KERS Hazardous Retiree129.79% KERS Non-Hazardous Retiree %

26 KTRS Employees KTRS Description Total # Employees Employee Contribution Employer Contribution KTRS %14.52% KTRS on/after 07/01/ %14.84% KTRS Retiree % KTRS ORP %


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