August 20, 2009

APSAC hears reports on budget, health plans

APSAC heard reports from Jim Almond, senior vice president of business services and assistant treasurer, and John Beelke, director of human resource services, at its Aug. 12 meeting.

Almond gave an overview of the conceptual general fund operating budget for the current fiscal year. The total operating budget will be presented to the Board of Trustees at its October meeting.

For more on the conceptual general fund operating budget, visit www.purdue.edu/uns/x/2009b/090713BOTFees.html

Beelke reported on the new account-based health plan that will be introduced for 2010 pending trustees' approval in October.

The plan has a lower premium and higher deductible. It also features a health savings plan to which Purdue employees will have the option to contribute. It is tax-free and rolls over from year to year.

The incentive PPO and United Health Care options also will be offered in 2010.

Beelke also reported on the work of the Retirement Plan Review Task Force. The task force has received five proposals from retirement plan vendors that have higher education experience with defined contribution plans.

Task force members will review the proposals and narrow the list down to three vendors that will be invited to campus for presentations in early September.