Critics say it could weaken the state’s retirement system, which is already the worst-funded in the nation.
After several failed attempts and a special legislative session, Kentucky — the state with the worst-funded pension system — now has a plan to ease the financial burden that employees’ retirements are taking on quasi-governmental agencies.
In signing the pension reform bill on Wednesday, Republican Gov. Matt Bevin said it provides “much needed financial relief” and “a viable path forward for our mental health agencies, rape crisis centers, local health departments and other community agencies.”
But opponents of the new law warn that the controversial changes could worsen the state pension plan’s already precarious finances.
GOVERNING.COM
BY LIZ FARMER | JULY 25, 2019 AT 5:31 PM