Ky. Pensions Part 2: Higher Education faces huge cost increases - Glenn Puit, Daily Independent

Kentucky’s public colleges and universities face massive pension payment increases come fiscal year 2019 as the state struggles to address its pension crisis, according to a new state memo obtained by the Daily Independent. In the Tri-State region, Morehead State University faces an approximate $3.2 million increase in its pension obligations for the Kentucky Employees Retirement System (KERS). The figure represents an approximate 70 percent jump in the amount of money the university will have to pay for the KERS contributions. The memo from state budget Director John Chilton indicates the university is expected to pay $4.68 million in fiscal year 2018, then almost 8 million in fiscal year 2019. http://www.dailyindependent.com/news/ky-pensions-part-higher-education-faces-huge-cost-increases/article_017ffb66-a0c5-11e7-8436-7734bb225235.html