What is the pension crisis?
Pension Img
Kentucky is drowning in a financial crisis. The state’s public pension systems – retirement plans for our teachers, fire fighters, state police

and other public employees – experienced a shortfall of more than $36 billion in 2015. That’s more than 3.5 times the total General Fund tax revenue the state collected that entire year.

In plain terms, it would take $8,268 from every man, woman and child in the Commonwealth if all 4.3 million Kentuckians were asked to pitch in to fix the problem and honor the promise made to Kentucky’s public servants.

The history of how we got here is complex, and there is no agreement at this point about how to get Kentucky out of this situation. Regardless, this is the number one threat to our state’s financial stability.