Kentucky is ranked 49th in pension funding.
According to a report by the Pew Charitable Trusts, Kentucky ranked 49th out of 50 states on pension funding levels. Only Illinois ranked lower.
A downgrade of Illinois’ credit rating due to pension liabilities increased the cost of a $1.3 billion bond issue for construction projects in that state by $95 million over the term of the bonds. This increased cost was enough to fund the construction of at least four high schools or 12 elementary schools.