Board of Visitors minutes June 5, 1981 | ||
PROPOSED CHANGE IN THE TEACHERS' INSURANCE AND ANNUITY ASSOCIATION
(TIAA) GROUP LIFE AND GROUP DISABILITY PROGRAMS
The following resolution was adopted:
- RESOLVED by The Rector and Visitors of the University of Virginia that the existing TIAA group life insurance and group disability program shall be changed to provide:
- (1) that the total premium cost of group life insurance coverage and group disability coverage be paid by the University;
- (2) that the decreasing term for group life insurance be adjusted to $2,000 of permanent insurance at retirement;
- (3) that the one year waiting period for group disability insurance coverage be eliminated; and
- (4) that a 3 percent annual cost of living adjustment in disability benefits be incorporated into benefit payments.
Board of Visitors minutes June 5, 1981 | ||