In Kentucky's Drastic Pension Reforms, No One Would Be Spared.

Previous attempts to address the state’s pension crisis haven’t gone far enough. This time around, past, present and future employees could take a hit.

It was a busy week for many Kentuckians. With the state facing yet another public pension crisis, Gov. Matt Bevin spent five hours answering questions on Facebook Live, while retirees were lawyering up and legislators packing their bags for a special session.

This is the third time in a decade that Kentucky has tried to address its woefully underfunded pension systems. Each time, the solutions have become more drastic as the financial health of its pensions have continued to decline. Now, a consulting group is recommending the state’s lawmakers cut retirees’ pension checks by as much as 25 percent. Between its plans for workers, police officers, firefighters and teachers, the state owes roughly $33 billion in pension debt.

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GOVERNING.COM

BY LIZ FARMER | AUGUST 31, 2017



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