University of Kentucky President Eli Capilouto announced Thursday that the starting wage for employees will increase from $10.40 an hour to $12.50.
The pay increase will be the second time in the last four years that UK has raised starting wages.
Capilouto also announced changes in how sick time can be used and changes in who can participate in matching retirement savings plans.
The changes will impact about 1,700 employees and the changes in pay and leave time are effective in January. The matching saving plans, if approved by the Board of Trustees, will take effect in July.
Here are some specifics about the announcement.
- Beginning in January 2020, UK staff employees will be able to use up to 12 weeks of accrued sick time for parental leave for childbirth, adoption or foster care (currently, employees can use six or eight weeks of sick time; additional leave must be from accrued vacation leave).
- Also beginning in January 2020, staff employees will be able to use up to two sick days per year for personal well-being (currently, such time can only be used for illness or injury, or to care for a family member). These changes apply only to staff. Faculty sick leave is managed differently.
- Beginning July 1, 2020, pending Board of Trustees approval, all new eligible employees will participate in the UK matching retirement savings plan. In that savings plan, employees contribute 5% of their salary, and UK matches with 10% (currently, employees under the age of 30 are eligible, but not required, to participate). By including all new eligible employees, individuals who join UK early in their careers and stay for a long period of time will have the opportunity to earn several hundred thousand dollars for the duration of their work at UK.
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