Retirement
UWRP/VIP Fund Review Committee Membership
The Committee’s structure and authority is outlined in Section
8.3 of the UW Retirement Plan document, and Section 5.4 of the Voluntary
Investment Program document, and includes the following language:
Structure
The Committee shall be appointed by, and serve at the pleasure of, the
Executive Vice President who will consult with the Faculty Council on Benefits
and Retirement in selecting the members. The membership shall include the
following representatives and officials:
- One representative of the Faculty
Council on Retirement, Insurance, Benefits
- One or more representatives of the Faculty, as recommended by the Faculty
Senate Executive Committee
- One representative of the Librarians, as recommended by the Association
of Librarians of the University of Washington
- One representative of the Professional Staff, as recommended by the
Professional
Staff Organization
- One VIP participant representing the Classified or Contract Classified
Staff, as recommended by the Vice President, Human Resources
- One retired UWRP representative, as recommended by the UW
Retirement Association
- Ex officio, voting members:
- UW Director of Benefits
- UW Treasurer, Board of Regents
- Non-voting member:
- Representative from a four-year institution of higher education
in the State of Washington other than the University of Washington
In appointing members, those groups recommending members and the Executive
Vice President shall seek to identify individuals who have expertise in
the areas of tax and pension law for 403(b) or similar retirement plans,
or of finance, investment, or economics.
The Executive Vice President appoints the Chair of the Committee.
See Biographical Sketches
of current committee members.
Administrative Support
The UW Benefits & Work/Life Office will provide administrative support
to the committee including:
- Coordination of meeting dates and locations
- Coordination of requests/responses from the Committee to Fund Sponsors
for data or for meetings with appropriate representatives from the Fund
Sponsors
- Coordinate evaluation of any legal issues which may arise
- Provide web support for the statistics and information regarding each
plan which the Committee wishes to share with the campus community
- Act as collection point for comments from the campus community to share
with the Committee
- Provide routine updates to the Executive Vice President, the Faculty
Council on Retirement, Insurance and Benefits, the Professional Staff
Association, the Association of Librarians of the UW, and any other interested
parties, of the ongoing activities of the Committee
- Coordination of any actions (legal review, Requests for Proposals, etc)
required as a result of recommendations made and
accepted by the Executive Vice President to add or terminate Funds
or Fund Sponsors.
Initial Appointment Schedule
Terms are three years in length, and initial appointments have been staggered
to ensure continuity for the committee. There are no limitations placed
on member reappointments to this committee. Also, the number of faculty
to be appointed by the Faculty Senate Executive Committee is not specified.
See the Initial Appointment Schedule.
