ALBUQUERQUE, N.M. — The UNM regents unanimously OK’d a package of health care-related proposals Monday that includes eliminating post-retirement benefits for employees hired after June 30 and integrating former employees who retired before they were 65 back into the pool of active employees for insurance premium purposes.
In a separate action, the board gave a thumbs-up to “selective strategic pricing” – scholarships to attract new students, particularly from Texas and some foreign countries.
In an effort to lower health care costs, the University of New Mexico removed the pre-65 retirees from the active employees category in 2013, putting them into a separate pool. That meant higher premiums for the retirees, who have argued all along that they were being deprived of a benefit that they were promised when hired.
The pre-65s gradually will be reincorporated into the regular employees’ insurance pool. For the coming budget year, they and the university will split the cost of premiums, 50 percent and 50 percent. In fiscal year 2017, the retirees will pay 55 percent of premiums, and in FY18, 60 percent.
Also included in the package were several cost-saving proposals, including: