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...
Economic Security
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...
Pensions Need Responsible Funding Plan, Not Exaggerated Claims
Click to view as PDF. The series of reports from PFM on Kentucky’s pension systems overstate serious challenges with the condition of the state’s plans to justify drastic cuts in benefits....
Lack of Jobs and Wage Growth Still Hurts Kentuckians this Labor Day
Labor Day is a good time to reflect on the state of working Kentucky. This year, as the economy continues a long recovery and state and federal decision makers debate...
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...