When do longer-term operating budget projections begin to increase funding levels for employee benefits?
We hope to increase the College’s employer contribution to its defined contribution retirement plan administered by TIAA-CREF to 4.13 percent in FY 2011-2012, 8.25 percent in FY 2012-2013 and 10.31 percent in FY 2013-2014. We also hope to increase employer contributions to health insurance premiums by 5 percent in FY 2011-2012 and beyond.
Related Questions
- Why do the operating budget assumptions freeze or decrease employer contributions to employee benefits programs rather than reduce some other operating budget expense?
- What are the operating budget projections for FY 2009-2010 that result from the assumptions adopted by the Board of Trustees?
- How can the College formulate operating budget assumptions and projections in such uncertain economic conditions?
