Task force calls for overhaul of Kentucky state pensions (Courier Journal)

November 20, 2012 – A legislative task force is calling for a broad overhaul of Kentucky’s struggling retirement system that would require more state funding and deep reforms to the pension plans of new employees. But the panel offered no specific proposals to pay for the changes or pay down the state’s unfunded pension liabilities as the retirement system tumbles toward insolvency. The Task Force on Kentucky Public Pensions approved the recommendations Tuesday and will send a final report to the General Assembly next month, setting the stage for possible reforms in the 2013 legislative session. In its key recommendation, the task force urges the state to fully fund pension contribution payments beginning in fiscal year 2014-15, rather than only funding a percentage of the contribution, as Kentucky has done for years.

Link to Full Article: http://www.courier-journal.com/article/20121120/NEWS01/311200064/Task-force-calls-overhaul-Kentucky-state-pensions?odyssey=tab|topnews|text|Local%20News


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