Some progress has been made in reforming Kentucky’s pension systems, particularly for pension promises made to new hires in some, but not all, systems. Most recently, Gov. Matt Bevin, along with Kentucky’s legislative leadership, have called for an audit of those systems.
Still, given the current financial condition and critical level of unfunded liabilities, the Kentucky Chamber believes a number of additional steps must be taken to improve the systems’ operation, transparency and funding levels. It’s a complicated problem, but unless our policymakers act, and act soon, Kentucky’s pension system will be completely under water.
WHAT CAN YOU DO?
- CONTACT YOUR LEGISLATOR: Demand the problem be addressed during this legislative session at 1-800-372-7181
- STUDY UP AND SPEAK UP: For a detailed report on Kentucky’s Pension crisis, see kychamber.com/pensioncrisis
- STAY INFORMED: Follow this and other issues on the Kentucky Chamber’s news site, kychamberbottomline.com