Thursday, March 5, 2020 1:00 p.m. Board of Regents Room 2nd Floor Julian M. Carroll Academic Services Building Frankfort, Kentucky 40601
MINUTES *****
Regent Farris, Chair of the Executive and Audit Committee, called the meeting to order at 2:55 p.m.
Regent Elaine Farris, Chair Present Regent Ron Banks Present Regent Mindy Barfield Present Regent Paul Harnice Present Regent Dalton Jantzen Present Regent Roger Reynolds
Quorum was established.
MOTION by Regent Harnice:
Move the Committee to adopt the agenda of the March 5, 2020 Executive and Audit Committee Meeting.
Seconded by Regent Banks and passed without dissent.
Action Item(s):
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.