Life insurance shall be provided to all eligible employees and shall be continued into retirement. The University contribution shall continue at the same level as it was at the time of retirement.
RATIONALE: All employees as well as retirees need life insurance coverage. Employees who elect the University group life insurance during their working career find that at retirement they are left unprotected and in many cases unable to purchase a replacement for the employee coverage.
Proposal Background
December 1991: The Senate Benefits Committee brought to the full Senate a proposal containing a three part benefits program.
January 1992: The full Senate passed the proposal and sent it on to the Administration. (Vote 19-3)
July 1992: The Board of Control approved extending health benefits to TIAA/CREF retirees and established a pre-funding method to cover its costs. (Vote 5-0)
January 1993: At the insistence of the Provost the proposal was once again voted on and approved by the full Senate. (Vote 22-0)
Fall 1995: Senate Fringe Benefits Committee conducts a survey to determine the needs of the faculty and staff.
Spring 1996: Fringe Benefits Committee presents proposal 18-96 to the Senate.
Proposal tabled.