Updated as of 11/18/13: The Senate Assembly unanimously approved the resolution at its Nov. 18 meeting.
The Senate Advisory Committee on University Affairs unanimously approved a resolution Monday that outlines its concerns with a recently announced effort to look for ways to reduce the cost of U-M’s retirement savings plan.
Earlier this year, university leaders appointed the Committee on Retirement Savings Plan and Retiree Health Benefits to develop recommendations that keep U-M’s benefits competitive while reducing university costs.
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The resolution states that SACUA supports sound policies to contain costs, but believes the proposal will yield “little or no cost savings and is therefore detrimental to University’s mission of providing affordable, high-quality education and world class research.”
“Given that maintaining Michigan’s reputation and status as a top public university depends, above all, on the attraction and retention of the best faculty, the University must remain competitive in salary and benefits,” the resolution states.
SACUA is the executive arm of the university’s faculty governance system. The resolution will be presented to the Senate Assembly, 74 elected faculty members from the Ann Arbor, Dearborn and Flint campuses, at that group’s meeting Nov. 18.
