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            "text": "KENTUCKY STATE UNIVERSITY\nBOARD OF REGENTS\nMeeting of the Executive and Audit Committee",
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            "text": "Thursday, March 5, 2020\n1:00 p.m.\nBoard of Regents Room\n2nd Floor Julian M. Carroll Academic Services Building\nFrankfort, Kentucky 40601"
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            "text": "MINUTES\n*****"
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            "text": "Regent Farris, Chair of the Executive and Audit Committee, called the meeting to order at 2:55 p.m."
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            "text": "Regent Elaine Farris, Chair\nPresent\nRegent Ron Banks\nPresent\nRegent Mindy Barfield\nPresent\nRegent Paul Harnice\nPresent\nRegent Dalton Jantzen\nPresent\nRegent Roger Reynolds"
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            "text": "Quorum was established."
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            "text": "MOTION by Regent Harnice:",
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                    "text": "Move the Committee to adopt the agenda of the March 5, 2020 Executive and Audit Committee Meeting."
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                    "text": "Seconded by Regent Banks and passed without dissent."
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            "text": "Action Item(s):",
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            "text": "Douglas R. Allen II, Executive Vice President for Finance and Administration and CFO, apprised the Board that remaining in Kentucky Retirement System and Kentucky Teacher Retirement System keeps KSU's contributions at forty-nine to forty-seven (49-47) percent, approximately 1.9 million per year. If KSU opts out of the current systems, contributions could reach ninety-three and one-tenth (93.1) percent. Regent Harnice asked, and received confirmation, that it is management's recommendation that KSU remain in both systems and that there is no indication that it would be a good idea to leave either system."
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            "text": "9",
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