Murray State University officials detailed a proposed cost-of-living adjustment or COLA for school employees during a budget town hall on campus Tuesday.
University administrators hailed the COLA as the biggest since the Fiscal Year 2000.
MSU Vice President of Finances and Administrative Services Jackie Dudley said it’s a ranged adjustment that includes a 3% increase “across the board” and a $500 dollar flat component, meaning that — depending on each employee’s salary — it represents a 3.3 to 5.5% salary increase.
Dudley said the proposed model averaged out to around a 4.57% increase for each employee.
This comes just one year after the university approved a 3% COLA for all of its employees.
Murray State President Bob Jackson also announced a new minimum wage threshold for student workers at $8 an hour. Student wages are set departmentally. This new threshold falls just below the previously reported average student wage of $8.15 at the school.
The Murray State University Budget Town Hall can be streamed in its entirety below:
