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...
State Tax and Budget
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...
Small Tax Breaks’ Costs Add Up Over Time
Cleaning up expensive tax breaks is essential if we are going to invest in a stronger Kentucky and restore funding to our pension systems. The biennial Tax Expenditure Analysis (i.e....
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...
Clawback of Cost of Living Adjustments Would Be Major Hit to Retiree Checks
The Bevin administration's consultant recommends a massive cut to many retirees' incomes by rolling back past cost of living adjustments (COLAs) — a proposal that could reduce pension checks by...
PFM Report Uses Exaggerated Claims to Justify Harsh, Counterproductive Cuts
The final report from the state’s pension consultant PFM uses exaggerated claims about the condition of all of the state's pension plans to justify harsh and ultimately counterproductive cuts to...
Five Things to Keep in Mind as College Students Head Back to School
In colleges across Kentucky, students are beginning their fall semester — some for the first time, some returning to complete a degree. Here are five things about higher education in...
School Funding Challenges Remain as Students Return to Classrooms
The beginning of a new school year is often a time of excitement for kids, parents and educators. But it’s also a time state funding cuts and freezes to K-12...
Too Many Community College Students Are Hungry or Homeless
While community college is typically thought of as an affordable option for earning a degree, a recent report shows this is often not the case. Too many community college students...
Four Added Concerns About Kentucky’s Fiscal Outlook
The fact Kentucky has a severely underfunded pension system and that Gov. Matt Bevin plans to call a special session on the issue has been widely publicized. So has the...