Ky Universities Proposing Separate Pension System

Aug 16, 2017

Credit Stu Johnson

Eastern Kentucky University President Michael Benson says a proposal for state schools to move out of the state retirement system is under discussion.  

The university president spoke during the annual convocation before faculty and staff Tuesday in Richmond. 

Benson, who is responsible for convening Kentucky public university presidents, says the plan has already gone to the Council on Postsecondary Education.  

“We’re looking at a way that maybe we could opt out of the system and be able to finance it ourselves as one of the options, so we’re in discussions now with CPE and the presidents,” noted Benson.

Benson says the plan is to take the proposal to the state budget director.

Moving forward, he says a defined benefit format is the way to go.  The EKU president also told convocation attendees everyone on campus needs to take a role in student recruitment and retention.  Benson says that’s increasingly the case because of performance-based funding metrics.

Faculty Senate President Matthew Winslow says professors will be asked to do a little more than they’re used to. 

“If we want to try to increase our salaries, which I think is, not just a selfish goal, but a worthwhile one, we need to work on all those signs of success, student success is what this campus has got to be about,” said Winslow.

Benson provided an update on many capital projects on campus including a new parking garage set to open in October.