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2015-16 budget plan seeks modest increase from state

9/18/14

The Penn State Board of Trustees' Committee on Finance, Business and Capital Planning today (Sept. 18) recommended for approval a budget plan for 2015-16 that includes a request to the Commonwealth of Pennsylvania to increase general support appropriations to the University by $9.4 million. Additionally, Penn State is requesting an investment of $7.9 million to benefit a partnership between the University and the Commonwealth with a strategic goal of transforming Pennsylvania’s economy.

University awaits passage of state appropriation

6/25/14

As the June 30 deadline approaches for the Pennsylvania Legislature to pass the state budget, Penn State President Eric Barron is cautiously optimistic that the University will receive the level funding included in the governor’s 2014-15 budget proposal in February, in spite of the serious revenue challenge the state is experiencing.

Erickson addresses Pa. House, Senate appropriations committees

2/25/14

Penn State President Rodney Erickson addressed appropriations committees for both chambers of the Pennsylvania General Assembly on Feb. 25, urging lawmakers to keep the partnership between the University and the Commonwealth strong in the coming year.

S&P announces revised outlook for Penn State

12/20/13

Credit ratings agency Standard & Poor's announced today (Dec. 20) that it has revised Penn State's outlook to stable from negative and affirmed its 'AA' long-term bond rating.

Research team with fuel cell testing equipment

Penn State research expenditures top $848 million in 2012-13, set record

10/11/13

Penn State's research expenditures climbed to a record high of $848.2 million for the 2012-13 fiscal year, up 5 percent over the previous year, according to Interim Vice President for Research Neil Sharkey. The total included $537.3 million in federal funds, an increase of $30 million from fiscal 2012.

Budget plan seeks modest increase from state

9/19/13

The Penn State Board of Trustees' Committee on Finance, Business and Capital Planning today (Sept. 19) recommended for approval a budget plan for 2014-15 that includes a request to the Commonwealth of Pennsylvania to increase appropriations to the University by $14.7 million. This is the first step in the appropriations process and there are many factors that will contribute toward a final University budget to be adopted in July 2014 by the Board of Trustees.

Benefits changes focus on employee wellness, long-term cost savings

7/25/13

Penn State officials have announced a new, comprehensive strategy designed to improve employee health and to curb the rapidly growing cost of health care for both employees and the University. The changes, all of which are outlined in this article, will be implemented by Jan. 1, 2014, and seek to reduce, over the long term, the University’s significant and growing health care costs through wellness-focused programs and strong relationships with partner providers.

Health care plan changes include modifications to spouse, partner costs

7/25/13

Penn State officials are enacting comprehensive changes to the University’s self-insured health care plan to mitigate significant projected cost increases. Among the changes to be enacted on Jan. 1, 2014, is a monthly surcharge of approximately $100 for employees' spouses and same-sex domestic partners (SSDPs) who elect to enroll in University coverage when coverage is available through their own employer. Employees whose spouses/SSDPs have no option to receive health care coverage through another employer will not be impacted by this change. At this time, the surcharge will not apply to employees whose spouses/SSDPs also are employed at Penn State.

University announces tobacco cessation, differential program

7/25/13

As one component in the strategic plan to improve employee health and better control health care costs for Penn State and its employees, Penn State officials have announced a monthly surcharge in 2014 for benefits-enrolled employees and their spouse or same-sex domestic partner (SSDP) who choose to use tobacco.

'Take Care of Your Health' sees record participation following announcement

7/25/13

As part of a strategic plan to better control health care costs for the University and its faculty and staff, Penn State officials announced the 'Take Care of Your Health” initiative earlier this month. In preparation for 2014 Benefits Open Enrollment, the wellness-focused initiative is designed to help employees and their spouse or same-sex domestic partner (SSDP) learn about possible health risks and take proactive steps to enhance their well-being.

Health benefit choices, value-based design offer lower-cost options

7/25/13

Penn State officials have developed a comprehensive, wellness-focused strategy for employee health care benefits to help stem projected cost increases and improve employee health. As part of the strategy, the University will be providing more options for health care coverage instead of the single health plan option that has been available since 2008. Those options will offer a range of deductibles, coinsurance and employee contributions, as well as provider choice.

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