LOUISVILLE, KY (WAVE) - The University of Louisville wants every one of its employees to live comfortably above the federal poverty level.
UofL is the first public university in the state to raise its minimum salary for regular staff employees to $10 an hour. It's part of the school's efforts to create a living wage for its employees, one where an employee can afford the basic necessities of daily living based on the cost of living in that community.
UofL said it's paying for the program with savings incurred through its health insurance program. The university is self-insured and offers a wellness program, Get Healthy Now, which is meant to promote physical and mental fitness among its employees.
"Through strong management of our resources and thanks in part to the success of Get Healthy Now, we have been able to reallocate savings from our health insurance program to this important initiative – without raising insurance rates or cutting back on our employees' health benefit," UofL President James Ramsey said.
The new wage went into effect November 1, 2013. It will be reviewed each year to make sure employees stay above the living wage threshold.
On Thursday President Obama proposed raising the federal minimum wage to $10.10 an hour.
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