Eastern Kentucky University, Richmond, is searching for a consultant to advise the university on the financial impact of recent pension reform legislation on behalf of the state's regional public universities.
According to an RFP posted on the university's procurement website, the system is seeking a firm to advise the universities on the financial and related impacts of House Bill 1, which was signed into law by Gov. Matt Bevin on July 24.
The law allows 118 quasi-governmental agencies, such as the community and technical college system, to leave the $2 billion Kentucky Employees Retirement System for Non-Hazardous employees, Frankfort, if they are unable or unwilling to pay rising pension contribution costs. The chosen consultant would also advise on a course of action the universities should take.
The university issued the RFP on behalf of itself; Northern Kentucky University, Highland Heights; and Western Kentucky University, Bowling Green. The three universities collaborated on the RFP, which notes the RFP is available for "all Kentucky regional comprehensive public universities" interested in participating. How much of the retirement system's assets come from the universities could not be immediately learned.
The RFP is available on Eastern Kentucky University's purchasing website. Proposals are due at 2 p.m. EDT on Oct. 30. A timeline for a decision has yet to be determined.
Andrea Sue Cashell, director, university procurement at EKU, could not be immediately reached to provide further information.
