Kentucky Employees Retirement System

Official Photo/wku.edu

Western Kentucky University President Timothy Caboni says shoring up the state’s pension system is more than a political conversation. He says it has real implications for universities.

Sergey Kuzmin/123rf Stock Photo

A much anticipated report is coming out today on Kentucky’s troubled retirement system for public employees.

Sergey Kuzmin, 123RF Stock Photo

Kentucky's public pension debt grew by roughly $2 billion on Thursday when state regulators made dramatic changes to long-held investment assumptions. 

Legislative pension reform is progressing through the Kentucky General Assembly. Senate Bill 7 would keep new legislators from participating in the Kentucky Employees Retirement System. It is aimed at preventing the addition of new burdens to Kentucky's pension system, despite the fact that legislator's pensions are generally well-funded.

Senate President Robert Stivers praised the bipartisan effort in his chamber to solve Kentucky's underfunded pension problem.