Kentucky's plan to fix its retirement system is drawing positive reviews from the think-tank types at The Pew Charitable Trusts.
The state has been struggling with its pension obligations since at least 2002, when it realized it was bogged down with $26 billion in pension debt.
According to Pew, the state's bipartisan reform effort this year resulted in a "fair and effective" retirement system for both employees and taxpayers. The state legislature passed a bill that is projected to improve the fiscal health of the pension system by billions of dollars, ensuring that state and local governments can keep their promises to Kentucky's public workers, according to The Pew report.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
