teacher pensions

Moritz Wickendorf, Wikimedia Commons

State House Democrats will once again try to push through a bill that would allow the state to borrow $3.3 billion to shore up the ailing teacher pension system, which is short $24 billion to make future payments.

Last year, the bill passed out of the House but was met with stiff opposition from leaders in the Republican-led Senate, which favored studying the problem to come up with structural changes to the pension system.


  Kentucky teacher pension officials are still asking for a $3.3 billion bailout of the system, saying it would increase the plan’s funded ratio from 53 percent to 66 percent and reduce the amount the state has to contribute.

Wikimedia Commons, Public Domain

By law, the only piece of legislation that the 2014  Kentucky General Assembly had to pass was a two-year state budget. All else, as Will Rogers put it, is applesauce.

Photo by Gene Page/AMC

AMC’s hit zombie-apocalypse-drama ‘The Walking Dead’ is a story about a shambling mass of the undead that brings civilization to its knees. Chris Tobe, ​a former trustee of the Kentucky Retirement Systems turned whistleblower, says the show is an apt metaphor for what will happen if  lawmakers don't get serious about funding pensions. 

“I think we’re going to be The Walking Dead for a long time" said Tobe. "We’re all gonna keep saying, ‘oh, we’re just fine,’ and we’re gonna be ‘The Walking Dead’ for a long, long time.

Unfunded Liabilities in Teacher Pensions Rising

Dec 13, 2012

A new report says teacher pensions across the country have an unfunded liability of nearly $325 billion. The National Council on Teacher Quality issued its findings today. Council Vice President Sandi Jacobs says one problem is retirement eligibility. In Kentucky, teachers can retire with full lifetime benefits after 27 years of service, regardless of age.