Plans to raise $3.3 billion in a pension obligation bond sale for the beleaguered Kentucky Teachers’ Retirement System failed to pass through the state’s legislature this week.
In response, the KTRS Board of Trustees may request a special legislative session to reconsider the proposal.
Gary Harbin, executive secretary of the system’s board of trustees, said $14 billion in KTRS’s unfunded liabilities will grow to $21.6 billion by July without a new funding plan.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
