pension

LRC Public Information

A bill that would separate the relatively healthy retirement fund for local governments from one of the state’s ailing pension systems is dead — despite a push from local officials.

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The Kentucky state Senate has agreed to make changes to three of the state's public pension systems.

Jacob Ryan-WFPL/Kentucky Public Radio

Gov. Matt Bevin delivered his second State of the Commonwealth address Wednesday night. It marked the first time in state history a Republican governor of Kentucky addressed a joint session of a Republican-led legislature.

Without congressional intervention, about 16,000 retired miners in seven states will lose their health care coverage by the end of the year.

A proposal to temporarily extend the benefits is working its way through Congress. But two Senate Democrats, who are advocates for a more comprehensive plan, say the temporary provision isn't enough.

They are threatening to hold up a spending bill that needs to pass by Friday night to keep the government running.

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.

Kaspars Grinvalds, 123rf Stock Photo

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. 

WKU

  Western Kentucky University is seeking a declaratory judgment against the Kentucky Retirement System.  The feud relates to the pension benefits of former buildings and grounds workers.

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Two of the Republican Party's top leaders have hesitated to support a bill that would preserve the pensions and health care benefits for thousands of retired union coal miners. 

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.

Aleksey Butov, 123rf Stock Photo

Update Friday Afternoon:

Illinois’ payment to its largest public-pension fund is expected to increase by more than $400 million next year. The Teachers Retirement System trustees agreed Friday to lower the assumed rate of return on investments from 7.5% to 7%.

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