To inform direction and future recommendations, a number of actions were taken by the Holistic Benefits Working Group.
Early 2018
- The actuarial consultant, Aon, completes a Benefits Index study against university and non-university comparators
October 2019
- University of Waterloo employees are invited to complete a benefit survey
- Members are asked to comment on:
- items they’d like to see improved in the plan design
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items they would be willing to see reduced to fund plan design improvements
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overall plan flexibility, introducing employee contributions, etc.
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Key finding: based on feedback received, employees were not in favour of paying more to fund benefit improvements.
June 2020
- The Holistic Benefit Working Group shares two draft active benefits design options (flexible design, along with traditional) with key stakeholder groups for initial feedback
- Key stakeholder groups convey view that the traditional benefits design is the preferred structure for the health benefits plan
December 2020
- The Holistic Benefits Review Working Group shares recommendations with the P&B Committee
January 2021
- Employee information sessions will be offered to introduce recommendations
It is anticipated that the Pension & Benefits Committee will formally consider the changes to the benefits plan at a special meeting in January 2021; subject to approval by the committee, the final recommendation would be brought to the Board of Governors meeting on Tuesday 2 February 2021.