Switching to 401ks Is a Lose-Lose
It’s a bad idea for Kentucky to shut down its pension plans and move new teachers and public employees into...
Economic Security
Bill Would Limit Unemployment Insurance Benefits and Cut Them Off Much Sooner
Unemployment Insurance (UI) is a form of income-replacement coverage that keeps workers who lose their jobs out of poverty, boosts the economy in communities that experience downturns and helps to...
Passage of the Dream Act Would Benefit Kentucky
In September, the Trump Administration announced the end of DACA (Deferred Action for Childhood Arrivals), a program established by executive order that granted immigrant youth who were brought to the...
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...
Supplemental Security Income is the “Assistance of Last Resort” for Kentucky’s Most Vulnerable
Supplemental Security Income (SSI), similar to Social Security Disability Insurance, provides a vital lifeline to blind, disabled and aged Kentuckians. Being a means-tested program, however, SSI is specifically designed for those with...
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...
Social Security Disability Insurance Works for Vulnerable Kentuckians
There are many misconceptions about Social Security Disability Insurance (DI). Despite recent arguments that DI is a hindrance to people’s wellbeing and the commonwealth’s economy, it is instead a vital...
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...