kentucky pensions

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  Jim Carroll started working for Kentucky’s state parks system in 1978 making $780 a month.

“So I knew the pay wasn’t good but I knew that it was a place where you could advance over time,” Carroll said. “It was stable, and retirement was part of that.”

Carroll later worked in the tourism cabinet and retired in 2009. Since then, he’s organized a group of concerned state pensioners called Kentucky Government Retirees.

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Kentucky's public pension system not only faces an $18.1 billion unfunded liability, but might be in worse shape than previously thought. 

Kentucky Senator Chris McDaniel official Facebook page

A bill that would open up pension benefits for lawmakers to public review is on its way to the full Kentucky Senate. Similar legislation has passed the Senate before, but failed in the House.

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Kentucky's troubled pension systems have continued their downward slide in 2016, with plans covering teachers and state employees losing more than $1.8 billion in value while obligations are increasing. 

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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)

Gov. Matt Bevin’s attorney says the office will appeal a judge’s ruling that temporarily blocks the governor’s removal of the former chair of one of the state’s pension boards.

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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

Analysts say Kentucky will need to hire more state employees or have them pay more into the retirement system in order to reverse the state’s pension crisis, painting a grim portrait of Kentucky’s main public pension system.

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The LaRue County Republican Party has passed a resolution urging the Kentucky General Assembly to fix the state’s crumbling pension system.

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It was the best of pensions, it was the worst of pensions.

In 2013, the $14.5 billion Kentucky Retirement Systems' investment portfolio drastically underperformed its cousin—the Kentucky Teachers Retirement System—by about $1 billion.

Moreover, last year the KRS underperformed the average public pension's investment plan by about $500 million.

What's the difference?

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