Kentucky pension system

Sergey Kuzmin, 123rf Stock Photo

An organization of current and retired Kentucky public school teachers has filed a class action lawsuit against Gov. Matt Bevin and legislative leaders for underfunding the teacher pension system, which lost $1.2 billion last year.

Gage Skidmore, Creative Commons

Gov. Matt Bevin has hired a private consulting company to audit Kentucky’s struggling public pension systems, which have more than $35 billion in unfunded liabilities.

In an announcement Monday, Bevin says Philadelphia-based PFM Group will lead a review of Kentucky’s Employees Retirement System, Teachers Retirement System and Judicial Form Retirement System.  

Sergey Kuzmin, 123rf Stock Photo

A new study shows that Kentucky has the worst-funded pension system in the nation, compounded by the fact that of all the states, the commonwealth is doing the worst at paying off its pension debt.

Kentucky Retirement Systems (kyret.ky.gov)

The absence of the former board chair of the Kentucky Retirement Systems at official meetings is “not acceptable,” according to a judge who temporarily blocked the governor from removing the official.

LRC Public Information

House Speaker Greg Stumbo has called for an impromptu meeting of the state House of Representatives Tuesday to discuss the state’s troubled pensions systems.

iStockPhoto

A bill that would have enacted transparency measures for Kentucky’s ailing pension systems failed to pass this legislative session, despite a last-minute push.

LRC Public Information

A new version of the state budget, penned by Kentucky House Democrats, reverses some of Gov. Matt Bevin’s proposed cuts to state spending.

lrc.state.ky.us

Discussions about Kentucky tax reform have circulated around the state capitol for decades but no comprehensive tax measure has passed.

Two state lawmakers say major pension shortfalls could help move the issue along. 

LRC Public Information

The state legislature continues to search for a way to address the $31 million needed to shore up its pension funds for state workers, and teachers.  

http://401kcalculator.org / Flickr (Creative Commons License)

  If state leaders are closer to solving the crisis in the Kentucky teachers’ pension system, they’re not showing it.

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