Sharp Decline in Coal Severance Tax Revenue Underscores Need for Economic Plan
New data showing that eastern Kentucky lost 4,000 coal jobs last year should raise alarm among public officials about the...
Without More Revenue, Paying Pension Liabilities Will Continue to Be Challenge
After the General Assembly passed final pension legislation, some proponents of Senate Bill 2 hailed it as “historic.” But the costs Kentucky faces to pay down its unfunded pension liability...
State’s Mental Health System Has Experienced Severe Funding Shortfalls
Discussion of the news that Seven Counties Services, a community mental health center in Louisville, plans to file for bankruptcy should include a look at the chronic lack of state...
Pension Revenue Bill Provides Modest Resources to Address Budget Challenges
The pension revenue bill that passed the General Assembly this week provides only an estimated $31.7 million in net new state revenue to help address Kentucky’s budget needs. House Bill...
Kentucky Remains Long Way from Employment Recovery
New estimates show that Kentucky has added on average 1,500 net new jobs a month for the last six months and 1,525 a month for the last year. So far,...
Revenue Recovery from Great Recession is Slow
The debate over pensions in Frankfort hinges in part on whether the state should raise additional revenue to help make the pension payment or dig into the rest of the...
Kentucky’s Disinvestment in Higher Education Part of a Harmful National Trend
New Report: “Recent Deep State Higher Education Cuts May Harm Students and the Economy for Years to Come” Kentucky’s Disinvestment in Higher Education Part of a Harmful National Trend Report...
Not Paying Pension Bills Adds Up
A major contributor to Kentucky's pension funding problem is the legislature's failure to make the full required contribution to the retirement system in recent years. Shortfalls in payments started as...
Retirement System’s Investment Return Assumption is Reasonable
One concern being raised in Frankfort about the existing defined benefit pension plan is that if the retirement system does not meet its expected rate of return of 7.75 percent...
Pension Bill Focuses on Wrong Issues
To hear some in Frankfort these days, Kentucky needs pension reform now, now, now to avoid our own fiscal cliff, sequester, Greek economic meltdown or you name the financial calamity....