MOREHEAD, Ky. — Morehead State University has announced voluntary employee buyouts in response to budget cuts and rising pension costs.
The Lexington Herald-Leader reports MSU is the first Kentucky regional university to cuts its workforce in the face of the impending funding loss. President Jay Morgan wrote in a Friday email the university needs to make “a significant reduction” in the employee workforce through hour reduction or leaving entirely by spring.
Morgan said Tuesday his goal is for 20 to 25 employees to transition to part-time. He also says the school will no longer cover dental benefits or buy six months of unused sick time from retiring employees.
Under Gov. Matt Bevin’s proposed state budget, MSU will see a $2.5 million decrease in state funding and a $2.7 million increase in pension payments.
Information from: Lexington Herald-Leader, http://www.kentucky.com