Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIES3.1.2—CONTRIBUTIONS TO FRINGE BENEFITS PROGRAMSThe University’s contribution to the Oklahoma Teachers’ Retirement System and/or other charges forany other fringe benefit program for those individuals paid from other than Educational and Generalsources shall be charged to the source or sources of pay on a pro rata basis except where expresslyforbidden by the source.(RM, 7-27-67, p. 9021)3.1.3—PAYROLL DEDUCTIONSThe Board of Regents authorizes (1) current withholding from the compensation for an employee’sservices, with the consent of the employee, amounts necessary for participation in various programs, and(2) the President to approve future deductions which appear to be in the best interests of the Universityand its employees.(RM, 9-1-83, pp. 17634-5, edited)3.1.4—EMPLOYMENT BENEFITS FOR ELIGIBLE EMPLOYEESThe University makes insurance available for employees under a flexible benefits plan, SoonerOptions. Health, dental, group term life, accidental death and dismemberment, and long-term disabilityinsurance are offered under Sooner Options. Dependent life and dependent accidental death anddismemberment insurance are also available. To be eligible to participate in Sooner Options, anemployee must have at least a 50 percent FTE (full-time equivalent) continuous appointment expected tolast a semester or more for faculty and six months for staff. Eligible employees are provided SoonerCredits in proportion to the FTE at the 50 %, 75%, or 100% level. Sooner Credits represent the moneythe University pays for each employee’s health, dental, group term life, and accidental death anddismemberment insurance. Under Sooner Options, the University determines annually an amount ofmoney to provide to the employee to spend on benefit coverages and the amount that will be paid if theemployee declines coverage.Premiums for dependent health, dental, life, and accidental death and dismemberment insurance mustbe paid by the employee. Also available on an optional basis, with the employee paying the premium, isadditional life, accidental death and dismemberment, vision coverage, long-term care, and long-termdisability insurance on the employee.Workers’ Compensation insurance is provided for all employees irrespective of employment status.Unemployment Compensation is provided for all employees except students.(RM, 12-8-77, p. 14733; amended 7-19-78, pp. 15108-9; 12-14-91, p. 22706; 1-27-2004, p. 28924)THE UNIVERSITY OF OKLAHOMA 166