March 6, 2008

Dear Colleagues:
 
I want to take this opportunity to tell you about several initiatives pertaining to compensation and benefits.

First, you should have received your 2008 Medical Plan Desk Reference and Preventive Care Benefits wallet card. These items provide a quick – but helpful – reference to detailed information on your health care plan. If you haven’t received these items, please e-mail a benefits expert by completing the form located at www.miami.edu/benefits/ask.

In March we will expand our UMatter offerings by launching UMatter Financial Wellness Week. We will host seminars on the UM retirement plans, financial education, free investment advice offered through LTSave, assistance with enrolling in the Voluntary Retirement Savings Plan, and more. View the schedule and reserve your seat for a seminar online. You may also download and print a schedule for the Coral Gables, Miller School, and Rosenstiel School campuses. Whether retirement is just around the corner or years away, the steps you take today can make a big difference to your future. I urge you to take some time to plan for the years ahead.

Also in March, we will mail to your home a new Total Compensation Statement that summarizes your calendar year 2007 salary and benefits. The statement is intended to highlight the importance and financial significance of non-cash compensation provided by the University such as health care insurance, pension, tuition remission, and other benefits. For a reference guide to the 2007 Total Compensation Statement, click here.

As you know, in June we will be launching a new staff compensation structure that will result in greater consistency among job titles and pay bands/ranges across the University. The new structure will also have built-in flexibility to enable each campus to meet its unique challenges in recruiting and retaining top talent.

Also in June, we will launch a new program that brings a significant reduction in the cost of public transportation to UM faculty and staff. You will hear more about these new developments over the next several months.

Your opinions matter and are given serious consideration. You can send comments to me at umbenefits@miami.edu.

Again, thanks for all you do for the University.

Sincerely,

Joe Natoli
Senior Vice President for Business and Finance
and Chief Financial Officer