Formed in June 2013, the University of Missouri Total Rewards Ad Hoc Task Force was charged with assisting the Vice President for Human Resources in developing and communicating recommendations to improve the University's Total Rewards package. The recommendations, described below, have prompted several of the other strategic initiatives.
For more information on the Total Rewards Task Force's directives, visit the Task Force’s background and charge page.
- Treat pay and benefits as interrelated parts of the overall Total Rewards strategy.
- Establish a benefits rate cap.
- Increase flexibility within the Total Rewards programs.
- Utilize medical plan options to encourage healthy behavior and efficient use of healthcare services.
- Leverage marketplace opportunities for retiree medical benefits.
- Evaluate additional retirement plan options.
- Evaluate staff time-off plans.
- Invest in communication and education about Total Rewards that promotes informed decision-making.
Total Rewards includes all benefits and compensation for benefits-eligible faculty and staff (employees), retired faculty and staff (retirees), and their respective benefits-eligible dependents (dependents). The following programs and plans for employees, retirees, and dependents were specifically included in the Task Force charge:
- Retirement plans
- Medical insurance plans
- Ancillary insurance plans (Dental, Vision, Life, Long Term Disability, and Accidental Death and Dismemberment)
- Tuition Reduction/Educational Assistance programs
- Post-retirement medical insurance plans
- Staff time-off programs