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

June 22-23, 2004 29170CONTINUATION OF GRANT SUBCONTRACT - NCIn July 2000, the Board of Regents approved the above grant which supports theHIV/AIDS Evaluation and Technical Assistance Center administered through the University.The program addresses HIV/AIDS and healthcare for US/Mexico border populations. TheMeasurement Group will provide for the University general consultation, qualitative dataanalysis, a medical outcomes spreadsheet and a retrospective study. The grant is active throughJune 30, 2005.account.Funding for the subcontract is identified, available and set-aside within the grantPresident Boren recommended the Board of Regents authorize the President or hisdesignee to award a purchase order in the amount of $276,717 to The Measurement Group ofCulver City, California, for continuance of a subcontract issued by the University’s HIV/AIDSEvaluation and Technical Assistance Center in support of an existing Department of Health andHuman Services/Health Resources and Services Administration grant.Regent Weitzenhoffer moved approval of the recommendation. The following votedyes on the motion: Regents Everest, Clark, Stuart, Weitzenhoffer and Wade. The Chair declaredthe motion unanimously approved.ADOPTION OF THE UNIVERSITY OF OKLAHOMA OPTIONAL RETIREMENTPLAN, AMENDMENT AND RESTATEMENT OF THE DEFINED CONTRIBUTIONPLAN, AND ESTABLISHMENT OF CONTINGENCY RESERVEADOPTION OF THE OPTIONAL RETIREMENT PLANThe 2004 Legislature passed the Alternate Retirement Plan for ComprehensiveUniversities Act (House Bill 2226) (the “Act”) which allows current members of the OklahomaTeachers’ Retirement System (“OTRS”) employed by the University and OSU on June 30, 2004,and new hires after June 30, 2004 to elect to participate in an “alternate retirement plan” in lieuof participation in OTRS as provided in the Act. The “alternate retirement plan” will beofficially called the “University of Oklahoma Optional Retirement Plan.” Board approval isrequested to establish the University of Oklahoma Optional Retirement Plan (the “OptionalRetirement Plan”) for eligible continuous regular employees who are hired after June 30, 2004and who elect within 90 days of the employee’s date of hire to participate in the OptionalRetirement Plan in lieu of OTRS. This Board action meets the requirements of the Act andestablishes this option effective July 1, 2004. The University will contribute 9% of an eligibleemployee’s base pay to an account for each eligible employee in the Optional Retirement Planeffective with the first day of the month following the date the University receives the electionfrom the employee to participate in the Optional Retirement Plan, and not to participate inOTRS. The Optional Retirement Plan will have a three-year vesting provision. The OptionalRetirement Plan will not have an age or service requirement for employees participating in thatPlan.The Optional Retirement Plan provides that all employees will be eligible if they areat least .5 FTE, which is the same eligibility requirement as in The University of OklahomaDefined Contribution Retirement Plan (the “DCP”). In addition, employees who have previouslyopted out of OTRS because they were over age 55 or 45 after July 1, 2003 at the time of theirdate of hire, and certain physician employees of OUHSC who perform services for affiliatedorganizations, will automatically be covered by either the Optional Retirement Plan or the DCP,