Yeah, it's 11.5 down to 8 plus some other cuts. I found this after some digging.
Chancellor Victor Boschini last week announced a reduction in the percentage the university contributes to employee retirement accounts, from the current 11.5 percent to 8 percent. The reduction starts in June.
The university also recently said it is reducing its contribution to health insurance for retirees. Previously, retirees received $225 per month toward purchasing health insurance. Starting in January, employees 45 or older will continue to be eligible for that benefit, but younger employees will not. Instead, they may only contribute to a defined contribution model for retiree health benefits.
“This news is difficult to deliver, but this reduction will result in significant cost savings to our overall budget and will allow TCU to still maintain competitive employee benefits for current and future employees,” Boschini said in his email to employees. “We know that some universities are wholly suspending, offering significantly lower contributions, or requiring an employee match for retirement account contributions during this time.”
Texas Christian earlier announced a set of voluntary coaching and executive salary reductions, hiring freezes, and a planned 20 percent reduction in the coming fiscal year’s operating budget.