August 17 Board Meeting: Agenda

It’s the eve of our August board meeting, so I’ll be brief. Below are the highlights (not all-inclusive) of what’s on the docket for Thursday, August 17.  The final agendas with supplemental information can be found at the following links: Committee Meeting Packet and Board Meeting Packet.

The Big Stuff

Committee Meetings
Committee meetings for the remainder of the year will move from Thursdays to Tuesday mornings at 8:30am. We are also going to forego holding closed pre-committee meetings. Instead, those discussions will be held with the full board at the Tuesday committee meetings. This is a good change. It will expand the amount of time the board (when we’re all together) will spend on each issue while eliminating duplicative presentations. Smaller committees will meet on an ad-hoc basis, primarily when there’s a need to consider refinements to any of our policies.

CEO Compensation Adjustment
We’ll be discussing President Tim Burke’s performance in closed session following our committee meeting, and then we’re scheduled to vote on a raise for Tim during the 4pm board meeting. I haven’t seen a summary of his performance review nor a proposed % increase yet.

Approval of Two Labor Union Contracts
Two of the three unions have reached a tentative agreement on a new labor contract. Highlights of the agreement:

  • It’s a five-year agreement (they are normally three years)
  • Increases in health insurance deductibles and out-of-pocket maximums (individuals only)
  • Employee contributions to the pension plan gradually climb from 6.7% in 2018 to 9.0% in 2022
  • OPPD increases the % contribution to pension cash balance plan for most age+yrs of service categories
  • 3% per year increase in wages

Other Stuff

We’ll hear a variety of other reports and take action on a few things as well. Here’s the brief summary of a few (again, not all-inclusive):

  • Update on employee engagement survey results
  • Voting on whether or not OPPD is compliant with Strategic Directive 5: Customer Satisfaction
  • Voting to allow management to forego closed bid proceedings for repair of a transmission line damaged during the June 16 tornados. (Bids will still be obtained.)
  • Voting to give management authority to exercise eminent domain if necessary on two upcoming new transmission projects.

There are a variety of matters we’ll hear related to finances, retirement plan funding, legal fees, and claim settlements. And we’ll get our standard update on nuclear matters as well.