Oregon’s public universities are devoting a growing share of spending to retirement costs, a trend that factors into rising college tuition.
Between the 2017 and 2018 fiscal years, public employee retirement costs for the state’s public universities grew by 19.6 percent, according to the Oregon Council of Presidents.
That brings the total amount that universities will devote to retirement costs in the 2018 fiscal year to $166 million, or nearly 10 percent of the universities’ total education and general expenditures.
The annual amount universities pay toward the state’s Public Employees Retirement System as a share of overall payroll is expected to continue to rise in the next several budget cycles as well.
Read the whole story at Pamplin Media.