Employee Benefits Review Committee Webvtt
The committee meeting included discussions regarding the agenda approval and deferral of previous minutes to the next meeting due to computer issues. A primary focus was the update on the TCRS plan, including a detailed fee comparison analysis showing potential savings by switching to comparable state funds, although future savings are expected to decrease due to an upcoming rollover to Voya in April. The committee planned to seek further information regarding the Voya rollover, including associated fees and potential ramifications of plan conversion or freezing. Additionally, the committee discussed the timeline for a pay study, including meetings with department heads and focus groups scheduled for March 10th or 13th, with a goal of presenting recommendations to the council in May. Finally, a new business item was introduced for consideration regarding providing benefits, such as reduced earned sick/vacation time and earned holiday pay, for part-time permanent staff members to improve retention.