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Benefits Initiative Update: Jan. 15, 2020

This fall, campus constituents participated in small working groups to develop recommendations for what a shared solution could look like for the campus. These recommendations were delivered in November.听Since that time, campus leadership has had discussions with the lead working group that was formed in summer 2019 and others听to incorporate these recommendations into a final proposal.听Campus leadership will be reconvening the small working groups, along with the Academic Affairs Budget Advisory Committee (AABAC) and the lead working group, to review this proposal. We expect to have a final, shared solution decision to share with you in February 2020.听

In the meantime, leadership has some additional updates and clarifications to share with you.

  1. Leadership鈥檚 commitment to covering the year-end benefits deficit this year still stands. Units will not be subject to a 鈥渂-roll鈥 of any year-end deficits that originate from their speedtypes.
  2. As communicated in the Benefits Shared Solution Planning document from September 2019, benefits budgets and actuals will be localized in funds 10 and 12 speedtypes beginning in July 2020.听These will no longer be held centrally as they were in the past.
  3. Units should expect a shared solution (budget) decision in February 2020 so we can prepare for the upcoming fiscal year.
  4. Faculty Affairs has updated the offer letter template such that, effective January 15, 2020, all听new听start-up and retention accounts that have salary expenses will have corresponding benefits expenses. The template is available now. The solution for existing start-ups and retentions will be addressed in the shared solution decision released in February 2020.
  5. Units can reach out to Budget and Fiscal Planning (bfp@colorado.edu) with questions.听Budget and Fiscal Planning staff will be conducting outreach with units in the spring to prepare for the transition听and offer follow-up support after the start of the fiscal year. This outreach will include trainings and open office hours on main and east campus and significant website updates. BFP will also be available to attend unit meetings as requested.