Analysis Shows Pension Bill Adds Huge New Costs for Teachers’ Plan
A new analysis of the proposed pension bill by the actuary for the Teachers' Retirement System (TRS) shows huge new costs...
Exaggerated Pension Panic Fueling Harmful Bill
Kentucky needs a smart and measured plan to pay down our pension liabilities over time and improve our financial condition. But the bill released last week would cause unneeded harm...
Revenue Options to Meet Obligations and Protect Investments
To meet our pension obligations and begin reinvesting in a stronger future for the commonwealth, Kentucky needs new revenue. Currently, too many tax breaks drain money that is needed to...
Additional Contribution for Retiree Health Benefits Is an Unnecessary Wage Cut
The state’s proposed framework for pension legislation would require public employees to pay three percent more of their salaries toward retiree health benefits, the effect of which is the same as...
Pension Framework Makes Harsh Benefit Cuts, Adds Costs Without New Revenue
The governor and legislative leaders released a framework today that makes substantial cuts to pension benefits for current workers, new employees and even retired teachers. It includes a shift to...
Pension Legislation Should Solve Real Problems and Avoid Harmful Consequences
Legislative leaders say they will soon share a framework for potential pension legislation the General Assembly will consider in a special session this fall. Big questions loom over the legislation,...
Level Dollar Approach Shifts Enormous Burden to Upcoming Budget
The proposed level dollar approach to funding Kentucky’s pension liabilities would shift a large burden to our upcoming state budget and ask comparatively little from budgets a couple of decades...
Kentucky Will Face Transition Costs If It Switches to 401ks
Proponents are claiming Kentucky will face no transition costs from shutting down its defined benefit (DB) pension plans and moving employees into 401k-type defined contribution (DC) plans. That assertion ignores...
Decline of Private Sector Defined Benefit Plans No Model for Public Plans
Calls to end Kentucky's defined benefit (DB) public pension plans often refer to the move away from DB plans in the private sector and suggest the public sector should follow...
Proposed 401ks Cost More Than Kentucky’s Existing Pension Plans
The 401k-type defined contribution (DC) plans proposed by PFM in their final report would cost more than Kentucky’s existing defined benefit (DB) plans, according to data from PFM itself and...