The Board of Regents approves the Washington State University Plan (WSURP), and the Voluntary Investment Program (VIP), both 403(b) plans, hereafter referred to as the Plans. The Board of Regents delegates to the President the authority to take actions as necessary to implement the Plans. Pursuant to that authority, the Investment Review and Plan Oversight Advisory Committee (IR&POAC) was established in August, 2012.
The Plans are intended to provide eligible employees the opportunity to generate the long-term accumulation of retirement savings through employer and employee contributions to individual participant accounts and the earnings thereon.
The Committee is subject to certain standards of conduct because they act on behalf of participants of the Plans. They are charged with monitoring and reviewing the Plans and making recommendations to the President, the Vice President for Business and Finance and the Director of Human Resource Services (HRS), as appropriate, relative to the Plans. Specific functions of the Committee are outlined in the Committee Charge Letter.
At all times the Committee’s activities shall be guided by the Investment Review and Plan Oversight Policy.
Composition and Tenure:
Committee membership shall include a minimum of four members appointed by the President to two year terms, of which one shall represent faculty, one shall represent professional staff, one VIP participant representing classified or contract classified staff, and one retired WSURP representative. Appointed committee members shall serve in staggered terms. To establish staggered terms for the August, 2012 appointees, up to two of the four initial appointed members may be appointed for up to a four-year term. All subsequent appointments shall be for two year terms, subject to renewal. The HRS Benefits Manager, a representative from Business and Finance, and a representative of the Budget Office shall be permanently seated ex officio Committee members. The President shall appoint the chair of the Committee.
Ex officio, permanently seated by a representative of the identified Office/Area:
- Human Resource Services
- Ann Monroe, Benefits Manager, Committee Chair
- Business and Finance
- Barry E. Johnston, Assistant Vice President, Financial Services
- Budget Office
- Kelley Westhoff, Operating Budget Director
Committee Members, on term appointments:
- Faculty Representative
- Dr. Richard Toolson, Professor, Accounting, seated August, 2012
- Professional Staff Representative
- Dan Nordquist, Director, Office of Grant and Research Development, seated October, 2012
- VIP Participant/Classified Staff Representative
- Teresa Uhle, Information Technologist Technician 2, Enrollment and Technology, seated August, 2012
- Retired WSURP Representative
- Don Orlich, Retired Professor, Educational and Counseling Psychology, seated October, 2012