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Murray State Board of Regents Discusses Uncertainties In HB 358

Murray State University Youtube

The Murray State Board of Regents will need to decide whether or not to opt out of the Kentucky Employee Retirement System by the end of the year if Governor Matt Bevin signs House Bill 358.

The board discussed the bill Friday during a special called meeting.

The complicated billallows state universities to opt out of the ailing system for some current employees and all future employees, but it comes at a cost.

Universities and other public agencies would still pay for current pension obligations that could be upwards of $100 million for Murray State.  Lawmakers also passed a rate freeze for pension contributions that freezes the current contribution rate at 49% before it is scheduled to increase 84% on July first.

President Bob Jackson is requesting an actuarial analysis to determine just how much Murray State will need to pay.

If Governor Bevin signs the bill, Murray State’s board will need to decide whether to remain in the Kentucky Employee Retirement System.

Taylor is a recent Murray State University graduate where she studied journalism and history. When she's not reporting for WKMS, she enjoys creative writing and traveling. She loves writing stories that involve diversity, local culture and history, nature and recreation, art and music, and national or local politics. If you have a news tip or idea, shoot her an email at!
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