Impact Of $15 Minimum Wage On ISU Could Hit $8 Million | WGLT

Impact Of $15 Minimum Wage On ISU Could Hit $8 Million

Apr 25, 2017

File photo of ISU President Larry Dietz.
Credit Staff / WGLT

The proposed $15 per hour minimum wage for Illinois could cost Illinois State University about $8 million.

That's according to ISU President Larry Dietz, who spoke to the Senate Higher Education Appropriations Committee in Springfield Tuesday.

Dietz told senators he's concerned the added expense would hurt students working on campus.

"We employ about 6,000 students on the campus now, and if it went up that much, that budget item would have to be reduced which essentially means the number of students working would have to be reduced. Most of our students are working not because it's a hobby, but because they need the money," Dietz said.

When questioned about pension liability, Dietz said he and other public university presidents favor changes in the pension system that effects future professors and employees. He said he's happy with the self-managed plan he is on, but to accomplish costs savings, more options are needed.

"If there were some other plans that were afoot that we could take a look at, I think all the presidents, including myself, would be happy to work with you to try to figure out how to get pension reform for new folks coming into the system," Dietz said.

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