The Kentucky General Assembly’s pension task force hopes to come up with a plan in less than a month to reduce more than $30 billion in unfunded liability in the state’s retirement system. State Representative Mike Cherry co-chairs the panel which has been conducting public hearings and collecting information on the issue for months. The Caldwell County Democrat says the task force will hold what could be its final session just before Thanksgiving.
“We will be meeting again on the 20th, at which time we hope to be in a position to have solidified our thinking and perhaps present some specific recommendations," said Cherry.
The task force met Monday and heard suggestions from the Pew Center on the States and the Laura and John Arnold Foundation. Pension reform is expected to be a hot topic during the 2013 General Assembly session, starting in January.
