HRMS eDocs Upgrade
The HRMS Electronic Documents (eDocs) system will be upgraded this fall with the goal of increasing the usability of the system. The basic functionality of eDocs and accessing them via OneStart will not change. Screens will be modified to have a tabbed format, similar to the screen design in the EPIC system. Navigation within the eDocs will be simplified, and screens viewed by approvers will be modified to display “before” and “after” values, allowing approvers to easily see exactly what was changed during the transaction.
Plans are to implement the upgraded system to the regional campuses first, followed by implementations at the Bloomington and IUPUI campuses. Additional details regarding the upgrade will be sent to all HRMS eDocs system users in the coming weeks.
Important Notice Required by Federal Law
Medicare Prescription Drug Coverage
Employers, like Indiana University, are required to provide notice to employees about Medicare prescription drug coverage each year. Medicare prescription drug coverage is now available to everyone with Medicare. This coverage is referred to as Medicare Part D.
The prescription drug coverage in IU-sponsored employee medical plans is, on average for all plan participants, expected to pay out as much as the standard Medicare prescription drug coverage. For this reason, IU plan participants will not pay a penalty to enroll in Medicare coverage later—as long as their Medicare prescription plan enrollment takes place within 63 days of ceasing IU-sponsored coverage. (This rule is similar to the current rule about enrolling without penalty in Medicare Part B.)
If a Medicare-eligible individual goes 63 days or longer without prescription drug coverage that’s at least as good as Medicare’s prescription drug coverage—monthly Medicare premiums will go up. The amount of increase will be at least 1 percent per month for every month for which there was no coverage. For example, if a Medicare-eligible individual goes nineteen months without coverage, the premium will always be at least 19 percent higher than what most other people pay. This higher premium will be in effect as long as Medicare coverage is in effect. In addition, after a 63-day lapse of coverage, the individual may have to wait until the next November to enroll in Medicare.
Go to www.indiana.edu/~uhrs/benefits/needknow.html to learn more about Medicare Part D coverage.
Investment Fund Performance
The following sample of retirement investment opportunities reflects average annual total return after all administrative expenses. These figures are based on historical results, and they do not necessarily represent future performance.
Average Annual % Return |
Average Annual % Return |
||||||||
5 yrs. |
10 yrs. |
Life |
Fund Inception |
5 yrs. |
10 yrs. |
Life |
Fund Inception |
||
| Money Market Funds | Stock Funds | ||||||||
| CREF Money Market | 3.08 |
3.44 |
4.65 |
4/88 |
CREF Stock | 8.68 |
5.53 |
10.17 |
7/52 |
| Fidelity FMMT | 3.24 |
3.54 |
4.55 |
12/88 |
CREF Growth | 5.96 |
2.11 |
7.11 |
4/94 |
| Fidelity Blue Chip | 4.91 |
3.01 |
10.99 |
12/87 |
|||||
| Fixed Annuity | Fidelity Contrafund | 11.51 |
9.21 |
12.87 |
5/67 |
||||
| TIAA Annuity | 4.46 |
6.11 |
- |
- |
Fidelity Magellan | 6.13 |
4.65 |
17.69 |
5/63 |
| Bond Funds | International/World Funds | ||||||||
| CREF Bond | 4.01 |
5.19 |
6.82 |
3/90 |
CREF Global Equities | 9.85 |
4.92 |
8.27 |
5/92 |
| Fidelity Govt. Inc. | 4.21 |
5.18 |
6.29 |
4/79 |
Fidelity Europe | 17.16 |
7.43 |
10.50 |
10/86 |
| Fidelity Inv. Grade | 3.28 |
4.80 |
7.47 |
8/71 |
Fidelity Overseas | 13.11 |
7.03 |
12.18 |
12/84 |
| Growth & Income Funds | Annual Interest Crediting Rates |
||||||||
| CREF Soc. Choice | 5.98 |
5.31 |
9.01 |
3/90 |
PERF Options | 2008 |
2007 |
2006 |
2005 |
| Fidelity Fund | 8.11 |
5.30 |
10.24 |
4/30 |
Guaranteed Fund | 6.50% |
6.0% |
5.75% |
6.25%
|
| Fidelity Equity Income | 6.49 |
5.88 |
12.21 |
5/66 |
Average Annual %* |
||||
1 Year
|
3 Year |
5 Year |
|||||||
| Market Indexes | Money Market Fund | 4.25 |
4.60 |
3.37 |
|||||
| Dow Jones Industrial | 7.20 |
4.50 |
- |
Bond Fund | 7.35 |
4.45 |
4.10 |
||
| S&P 500 | 7.58 |
2.88 |
- |
S&P 500 Stock Indexes | -12.96 |
4.44 |
7.60 |
||
| NASDAQ | 7.91 |
2.45 |
- |
US Small Co. Stock | -25.29 | 1.60 |
12.07 |
||
| Russell 2000 | 10.29 |
5.53 |
- |
International Equity Index | -10.28 |
13.00 |
16.85 |
||
| EAFE | 16.91 |
6.08 |
- |
* Trailing period as of 6/30/2008 | |||||
| TIAA-CREFF and Fidelity Investments figures are as of 8/31/2008. Market Indexes are as of 6/30/2008. | |||||||||
