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Thu August 23, 2012
Kentucky Pension Task Force Tackles Shortfall
A task force looking for ways to cover Kentucky's $19-billion public pension shortfall will explore the idea of borrowing enough money to bridge the gap through the sale of government bonds. The Task Force on Kentucky Public Pensions is expected to review that option at a meeting in September.
Panel co-chair State Senator Damon Thayer says he’s cautious about the proposal, but the panel has said all options will be considered. Lawmakers have been trying to identify ways to resolve Kentucky's pension crisis. They hope to pass legislation early next year to shore up the financially troubled state retirement systems. Several groups, including the Kentucky Association of Counties, have raised the idea of a bond sale as a possible fix.