TCU is looking to restructure how it pays its employees.
Many colleges are facing a grim operating budget outlook from costs like this.
Here’s more from TCU 360:
The university, with the help of a Faculty Senate committee, is examining all benefits including health insurance, retirement, and the tuition benefit. Boschini said compensation and benefits must be addressed because they account for more than 60 percent of the university’s operating budget. That budget is funded primarily through tuition and money from TCU’s endowment. Neither is growing at a pace comparable to the exponential increase in benefits.
Healthcare costs paid by TCU have increased by 145 percent since 2010, from $11 million to $27 million this fiscal year.
