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Campus Community:

Over the past couple weeks, I have been in Frankfort multiple times advocating for our two major legislative priorities:

  1. Pension relief and reform
  2. Receiving the other half of funding to place NKU on a level playing field with our peers

I’m encouraged by the response we’ve received to both.  The Senate is currently debating their version of the budget, and our Northern Kentucky senators have been terrific in their support of equitable funding for NKU.  

Today I’m writing to encourage your advocacy and support of our other priority: pension relief and reform. We have continually voiced our concerns with the unsustainable financial pressure the state pension system places on NKU, and our legislators have responded in the form of two bills:

  • Senate Bill 1 creates a new tier of the retirement system that aligns more closely with the TIAA defined contribution plan already offered to NKU faculty and administrators
  • Senate Bill 66 gives NKU the option to opt out of the Kentucky Employee Retirement System (KERS) and enroll employees in our generous TIAA plan used already by our faculty and administrators 

Each of these bills give NKU options for addressing the pension, which has become our greatest financial challenge.  We are still assessing each of these options, and our decision would be made with the best interests of our people, our students and our institution in mind.  

Without the passage of these bills together, no relief or reform options will be available and our institution will be forced to create a budget with an at least $13 million reduction to cover the increased costs to KERS.  

I’m urging you to advocate for passage of these bills.  We’ve updated our message on www.investinsuccessky.com.  It is simple and quick to use, and your efforts can make a lasting impact.  

Thanks for all you do to support NKU and our students.

Gerry

 

Gerard A. St. Amand
Interim President
Northern Kentucky University
Nunn Drive
800 Lucas Administrative Center
Highland Heights, KY 41099
Phone: 859-572-5123
Fax: 859-572-6696