Dear Colleagues:
Today marks the beginning of our next fiscal year and the date that many viewed as a deadline for the legislature to address pension reform. While the legislature did not convene in a special session in June, I want to assure you that we have reason to remain confident that Frankfort will address the issue. We are told a special session will be called in July or August and remain hopeful that the legislature and governor will find a solution that gives institutions realistic options to move forward.
While the work of pension reform continues in Frankfort, NKU has set our path forward. The Board of Regents passed the 2020 fiscal year budget in March which assumes our contribution rate under the Kentucky Employees Retirement System (KERS) remains at 49 percent. This budget sets our priorities for the next year, including implementing the university’s strategic framework. Success by Design provides the roadmap for how we will carry our legacy into the next 50 years. There is much work to be done, and we are committed to serving our students so that they have meaningful careers and lead fulfilling lives.
As the summer gets into full swing, we look forward to having our campus full of activity and the start of the next academic year. During this time, we will stay in contact with our legislators in Frankfort and our contacts in the governor’s office. We know you have many questions, and we will address them as we have answers. Please know that as your president, I continue to advocate for and urge Frankfort to pass meaningful pension reform.
Thank you for all you do for our university, our students and our region.
Sincerely,
Ashish
