Vital Retirement: Creating Impact with Your Retirees • Diana McClay, Associate Director, Human Resources, East Tennessee State University • Connie Baskette, Executive Director, Benefits.
Download ReportTranscript Vital Retirement: Creating Impact with Your Retirees • Diana McClay, Associate Director, Human Resources, East Tennessee State University • Connie Baskette, Executive Director, Benefits.
Vital Retirement: Creating Impact with Your Retirees • Diana McClay, Associate Director, Human Resources, East Tennessee State University • Connie Baskette, Executive Director, Benefits and Retirement, The University of Tennessee • Brian Roe, Benefits Specialist, Benefits and Retirement, The University of Tennessee • Richard Ashley, Training Manager, East Tennessee State University East Tennessee State University “Home of the Buccaneers” • • • Located in scenic Johnson City, TN Offers more than 100 undergraduate, 60 master’s and 11 doctoral programs including a College of Medicine and College of Pharmacy Numbers • • • • • 2,133 employees 724 faculty 1,409 staff >12,100 students Human Resources Office University of Tennessee, Knoxville • Located in Knoxville, TN • Offers more than 300 degree programs • Enrollment • • • • 26,400 (20,400 Undergraduate & 6,000 Graduate) 8,300 Faculty & Staff 1,400 Instructional Faculty 300,000 Alumni • 550 Acres, 220 Buildings Accreditation • UT is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools to award baccalaureate, master's, and doctoral degrees. Ayres Hall Objectives • Describe the need for retiree associations • Describe the benefits of establishing a retirees association • Understand how retiree programs operate at East Tennessee State University and the University of Tennessee • Return to your institution and establish a retirees association The need for retiree associations 1. More Retirees! Labor force projections (Census Bureau) • Labor force continues to age over next 10 years • Aging of the Baby Boomers (born 1946-1964) • In 2014 this age group will be 50-68 years old • 2004-2014 the annual growth rate of 55+ group projected to be 4.1% or 4x the rate of growth of the overall labor force • In contrast: 25-54 year age group growth rate of .3%; 16-24 year age group growth rate flat The need for retiree associations 2. More Retirees wanting more: AARP survey (1999) • 8 in 10 Baby Boomers plan to work part-time during retirement; • More than a third will work part-time for interest and enjoyment; • Close to half will devote more time to community service or volunteer activities; • Seven in ten expect to have a hobby or special interest; • Boredom and isolation are not seen as problems The need for retiree associations 3. More retirees wanting/needing services for a longer time! • Life expectancy in the U.S.: 77.71 yrs. • 74.89 years male • 80.67 years female The need for retiree associations 4. Increased need for maintaining contact with retirees • Boomers want information • More decisions: Medicare, Social Security, Retirement, Health Insurance, Long-term care, etc. • Retirees want work and volunteer opportunities • Retirees want social activities/travel opportunities/institutional updates/educational opportunities • “Brain Drain” for institutions • Significant shortage in qualified employees due to retiring baby boomers and fewer workers with advanced skills • Service opportunities and fund raising for institution The Benefits of a retirees association • • • • • • • • Temporary and volunteer workforce Phased retirement for faculty Service/Mentoring workforce Continued social contact/involvement Communication vehicle • Between the institution and retirees • Between the institution, legislators, vendors Good will Fundraising Public Relations ETSU Retirees Association History • June 1986 ad hoc task force initiated by the university president • Objectives: survey retirees for level of interest; draft association objectives and by-laws; present proposal; assist in the formation of association • Initially sponsored by Development Office/reassigned to HR in 1987 • November 1987 Organizational Meeting and Luncheon • Open to all retirees – university hosted event/meal • Adoption of By-laws • Election of Board members • December 1, 1987 First Board Meeting • January 1992 Scholarship Endowment established Scholarships for deserving students ETSU Retirees Association Purpose • To provide opportunities for continuing social contact • To provide a vehicle for communication between the University and retirees • To assist the University in carrying out its objectives and policies ETSU Retirees Association Current Board Structure • 12 voting retiree members (three year terms) • 1 voting member from university administration • Officers: President, President-Elect, Secretary, Treasurer ETSU Retirees Association Current Sponsored by Office of Human Resources • Associate Director HR, Liaison • Senior Human Resource Assistantsecretarial/technical support • No dedicated space/use HR office facilities • Access database (>750 retirees and spouses) • Special mailings • Quarterly Newsletter • Special Event Flyers • New Retiree Packets (for recruitment) ETSU Retirees Association Current Committee Structure • • • • • • • Executive Committee Membership Committee Finance Committee Program Committee Communications Committee Liaison Committee Service Committee ETSU Retirees Association Current Budget • No university seed money. Funds generated from membership fees and interest • Human Resources provides staffing, supplies, paper, printing, miscellaneous expenses • Retirees pay for mailing costs ETSU Retirees Association Current Budget (continued) • Four Accounts: • Operating Fund Account: $5 individual yearly membership • Life Membership account: $100 individual; $150 retiree/spouse • Scholarship Endowment Investment Account: Funds invested by the university • Endowment Interest Income Account: interest from the Scholarship Account. Monies distributed yearly through student scholarships Activities • • • • • • • • • ETSU Retirees Association Current Annual Meeting/Luncheon Annual Picnic Three yearly “Eat and Chats” Sponsor special events Publication of Quarterly Newsletter Scrapbook and Archive submissions Sponsor travel opportunities (local and oversees) Retirees Website Sponsor Fund Raising (over $100,000 balance) ETSU Retirees Association Current Activities (continued) • Garage Sale supporting Career Skills Enhancement Program ($1000 donation) • Volunteering • SGA, Homecoming, Appalachian Fair, Pride Week, athletic events • Tutor athletes • Campus offices (list in HR) • Training for staff/faculty • Advocacy: contact with legislators, state government agencies • Public Relations: TV and radio interviews • History: Tales of the University, gather tales and stories about university life ETSU Retirees Association Current Benefits of Association Membership • • • • • • • • • Athletic event discounts Campus Fitness Center Free dental cleanings Free campus publications Free university photo ID Access to university libraries University Bookstore discounts Education Assistance provided through State programs Free campus parking ETSU Retirees Association Future • Retirement and Benefits Seminar for Potential Retirees • In-conjunction with HR • Workshops • Mailings • Mentoring • New Position Request: Benefits/Retirement Counselor • Continued and expanded association with AROHE (Association of Retirement Organizations in Higher Education) and the Higher Education Statewide Retirees Group • Email Contact List Retirees’ Association HISTORY • • • • January 1979, Faculty Senate suggestion March 1979, By-Laws presented to Chancellor October 1979, Chancellor endorses January 1980, Constitution approved Retirees’ Association HISTORY • Named UTKRA (University of Tennessee, Knoxville Retirees’ Association) • September 1990, name changed to UTRA (University of Tennessee Retirees’ Association) Retirees’ Association OBJECTIVES • To provide social opportunities for retirees and their families • To provide for the exchange of information between the university and its retirees • To identify and resolve problems of retirees of the University of Tennessee Retirees’ Association BOARD • 6 voting retiree members • 1 voting member from university administration (HR) • Officers • President • President-Elect • Vice President • Secretary • Treasurer Retirees’ Association LIAISON • Sponsored by Human Resource Office of Benefits and Retirement • Executive Director, Liaison • Benefits Specialist, Sponsor/Technical Support Retirees’ Association OFFICE • Dedicated Space within UT Conference Center Building Retirees’ Association OFFICE • Retiree’s Office • Manned 9 – 12, M – F • Volunteers from the UTRA (average one day a month) • Been open every working day for over a year • Card file of all members with contact info Retirees’ Association NOTIFICATION • Notifying prospective members • Brochures enclosed in the retirement confirmation letter • Word of mouth • Receptions • Office volunteer’s calling • Picnic Retirees’ Association REVENUE • Generating revenues • $5,000 allocated from Benefits Office budget • $5 per year for membership • $40 lifetime membership Retirees’ Association OPPORTUNITIES • Why join? • • • • • Trips (Networking) Luncheons (Networking) Meetings (Networking) Newsletter (Networking) Additional benefits Retirees’ Association OPPORTUNITIES • Bus trip to Biltmore Estate – Asheville, NC Retirees’ Association UNIVERSITY TIES • What’s in it for UT? • Scholarship • Campus Chest participation • Cadre of individuals with ties to the university who are willing to do almost anything that is asked Retirees’ Association FUTURE GOALS • Emeritus college • Identify expertise • Guest lecturers • Spin off interest groups • AROHE biennial conference representation • Collaboration with Tennessee Board of Regents and UT campuses retiree boards Next Steps: Establish a Vital Retirees Association 1. Identify Retiree Interest and Support 2. Identify Institutional Support—monetarily and administratively 3. Purpose 4. Structure 5. Operating Procedures, by-laws, constitution 6. Activities Next Steps: Establish a Vital Retirees Association 7. Next Steps – Starter Kit 8. Websites • www.tennessee.edu/retirees • www.etsu.edu/humanres/etsura.htm • AROHE www.arohe.org Questions and Answers It has been our pleasure!!!