STAFF ADVISORY COUNCIL
August 8, 2002 at 1:00 -3:00 pm
Notre Dame Room at LaFortune Student Center
Guest Speaker: Scott Malpas, Vice President for Finance & Chief Investment Officer.
Scott gave us an overview of the staff pension plan. He explained how it was funded and that it is a guaranteed plan, which means we as non-exempt staff are guaranteed to receive our pension. Exempt staff have a different plan that is not guaranteed, the exempt employee assumes the risk, not the university. Our plan is a defined benefit meaning that Notre Dame takes the risks on investments and payout is by a formula, which is determined by the University.
The employee fund in 1988 was about 10 million. It is now at 60 million. Scott also discussed the current status of the stock market and reminded us that while it is low now the university is in better shape then the early 1990's and the 1970's. To support our retirement we need an overall return of a about 9 percent. Over the last ten years the university has achieved that percentage.
Questions to Scott from committee members:
Will our retirement formula change?
It maybe a possibility, but they are satisfied with the overall package.
Is our retirement secure?
Yes, we have a guaranteed fund.
Where can employees get help for investing their S.R.A.?
Look for notices from companies. They are on campus at various times. The finance department will not help you pick investments. Human Resources has staff members who are available by appointment to discuss your specific plan.
Can employees purchase bonds for Notre Dame projects?
Yes, but they are quite large. In the future the university may look at lowering the amount so more employees could participate.
Parking fees is a concern among all employees. A committee has been formed to make recommendation about parking and shuttle issues. There will be NO changes this year. A fee for parking is being discussed. Any recommendation for such a fee will be decided on by this fall. SAC members are meeting with co-chair Robert Foldesi about staff concerns. We do not meet directly with the committee. Bob is taking our concerns as a staff to the committee.
Some of the issues being discussed are:
Well we be paying for parking passes?
Who gets to park on campus?
Will there be a higher fee for on campus parking?
Will free parking be provided on the outer edges of campus?
New parking areas?
If we are paying for a parking area will we be guaranteed a place to park?
Please contact a Staff Advisory Council Representative to voice your concerns.
Human Resource Accessability:
Telephone and email difficulties are being looked at.
The Web page is also being looked at for improvements. Check Row at top of page for pertinent information. They are trying to make it more user friendly.
The committee adjourned at 3:00 p.m.