SUBJECT: Benefit Plan Changes - Alternate Supplemental Retirement Annuity Providers

DESCRIPTION:

The Employee Benefits Committee recommends the University provide employees eligible to make supplemental retirement contributions with alternatives to TIAA-CREF.

The Kansas Regents institutions currently make available to employees four providers for basic retirement plan contributions (TIAA-CREF, ING Aetna, Lincoln National and Security Benefit) and more than 50 providers for supplemental retirement plan contributions. The Benefits Committee proposal is to make available to Washburn employees only the four providers currently available to employees of the Regents System for basic retirement plan contributions and to make these four providers available to Washburn employees only for supplemental retirement annuity contributions.

FINANCIAL IMPLICATIONS:

None

RECOMMENDATION:

President Farley recommends the Board of Regents approve the addition of ING Aetna, Lincoln National and Security Benefit, as providers of supplemental retirement annuities for Washburn University employees.

______________________ _________________________

date Jerry B. Farley, President