COLUMBIA — UM System President Gary Forsee announced Tuesday he will recommend employee contributions to the system's retirement plan at Friday's Board of Curators meeting.
Forsee said in a news release that such a pre-tax contribution would keep employees' take-home salaries near the current levels.
He also recommended no raises for employees in the '09-'10 fiscal year, which begins July 1.
Other suggestions to soften the recession's blow include transition assistance programs for those who were laid off and transferring authority for the curators to the president to implement furloughs.
Should the curators approve Forsee's retirement recommendation, the release states, benefit-eligible employees who earn up to$50,000 will contribute 1 percent of their salaries and those who make more than that will contribute 2 percent.
Forsee said such a benefit plan will put the UM System "more in line with our competitors."
Forsee made clear in the release he will not recommend early retirement incentives to the board as they have been expensive and difficult in the past.
The system's president called these ideas "continued prudent actions on behalf of the university to manage the difficult economic times we all face."