Amand: Pension costs “biggest hurdle” for Northern Kentucky U budget - Sam Rosenstiel, the Northerner

NKU Interim Pres. Gerard St. Amand announced that Kentucky’s current pension system is one of the biggest factors holding back the university’s budget. The level at which NKU currently contributes to state pensions has increased without giving employees any added benefits, Amand said at a Board of Regents meeting Wednesday. “This is something we need to push the legislature and the governor to keep moving on pension reform, because this is the biggest, biggest hurdle to anything that we can do to try to fix our budget situation, and for the state as a whole,” Amand said. NKU currently contributes 49.5 percent of every pensioned employee’s salary dollar to Kentucky Employees Retirement System (KERS). That adds up to $18.3 million dollars per year, up from $3.3 million in 2008. https://www.thenortherner.com/news/2017/11/08/amand-pension-costs-biggest-hurdle-for-nku-budget/