| MEMORANDUM: | |
| TO: | Systems Management Council |
| FROM: | Compensation and Benefits Success 2000 Team |
| SUBJECT: | EMPLOYEE IMPACT OF SUCCESS 2000 IMPLEMENTATION |
| DATE: | September 22, 1999 |
The following recommendations were approved for system wide implementation as noted below: Please begin communicating this information to your department members beginning Thursday, September 23, 1999.
| EFFECTIVE OCTOBER 1, 1999 |
PROJECTED ANNUALIZED
GREEN DOLLAR IMPACT |
|
Free employee and Auxilian coffee/tea eliminated,
may be purchased at $.25 per cup. |
$ 116,524 |
|
Increase cafeteria food charges to employees by
5%
(reduce employee discount from 40% to 35%) |
$ 50,974 |
|
Eliminate Employee Birthday Meal Tickets.
(Auxiliary birthday meal tickets capped at $3.50) | $ 26,900 |
| Eliminate Employee/Family Inpatient Flowers. | $ 6,000 |
| Cancellation of 1999 Employee Christmas Party | $ 36,166 |
| Cancellation of 1999 Employee Holiday Gift Certificates. | $ 35,250 |
| FY 1999/2000 Merit Program Cancelled | $ 2,100,000 |
| EFFECTIVE JANUARY 1, 2000 | |
| Tuition Reimbursement Program revised to prorated reimbursement based on grade achieved (100%-A, 80%-B, 70%-C) and capped at 12 credit hours per calendar year. | $ 5,625 |
| Employer Pension match eliminated. | $ 210,000 |
| Pension contribution reduced from 5% to 4% | $ 390,000 |
| Prescription Plan: Co-Pays increased by 50% in each category: ``Generic'' increase from $5.00 to $7.50; ``Brand/No Generic'' increase from $10.00 to $15.00; and ``Brand with Generic'' increase from $15 plus cost diff to $22.50 plus cost diff. | $ 88,873 |
| Eliminate employer paid Short and Long Term Disability Programs. Currently researching conversion options for employee purchase. | $ 134,555 |
| Changes in Director/Executive Management and HCP Physician Benefits Structure: | $ 91,995 |
| TOTAL PROJECTED GREEN DOLLARS | $ 3,292,862 |
Several changes are being considered to the POS Health Plan, which should have minimal negative impact on employees. Revised Summary Plan Description, with clarification of guidelines for accessing the plan will be distributed and communicated during the annual benefits enrollment planned for November.
There are no increases in premiums planned for the health and dental coverage.
| FULL TIME EMPLOYEE PREMIUMS: | |||
|---|---|---|---|
| PER PAY PERIOD | |||
| MEDICAL | DENTAL (Traditional) | IDP | |
| Single | $ 2.00 | no charge | no charge |
| Single + 1 | $50.00 | $6.05 | $3.10 |
| Family | $60.00 | $8.21 | $4.79 |
| PART TIME EMPLOYEE PREMIUMS: | |||
| PER PAY PERIOD | |||
| MEDICAL | DENTAL (Traditional) | IDP | |
| Single | $31.00 | $6.04 | $2.69 |
| Single + 1 | $65.00 | $10.08 | $5.16 |
| Family | $90.00 | $13.67 | $7.99 |
There are no changes planned in PTO accrual or caps.
The VALIC portfolio has been expanded to provide additional investment options, which will also be introduced during the annual benefits enrollment.
The formatting of the document may differ slightly from the original paper memo, due to variations in browser settings. The original text is unchanged.
$116524 for coffee: The projected savings works out to $318.37 per day. How much did you pay for a can of coffee at the supermarket recently? $318 is a lot of coffee do you see the grocery truck unloading pallets of coffee every week? Could Mr. Team be mistaken in his savings estimate?
5% increase: It's actually an increase of 8.33% - from 60% to 65% of retail. What cost $6.00 before now costs $6.50 we can do the math, Mr. Team.
We're hoping
that you'll think that this is a 1% reduction,
not a 20% reduction.
Of course we're paying $80 instead of $100,
but maybe you won't notice.
This is a paid political advertisement provided by Tanner Andrews, P.O. Box 1208, DeLand 32721, independent of any campaign or committee. No candidate has approved this material.