The Newest on efforts to repair Kentucky’s public pension techniques (all occasions native):
Kentucky’s Republican governor says he’ll reply questions concerning the state’s struggling retirement system on his Fb web page .
Gov. Matt Bevin has requested state staff and academics to submit questions on his official Fb web page concerning the state’s retirement system. He says he’ll reply them starting at eight p.m. Monday by way of Fb Stay.
Unbiased consultants say state officers want an additional $seven hundred million a yr to save lots of its pension methods. Monday, these consultants are scheduled to inform lawmakers what they will do to generate that extra cash.
Bevin is predicted to name a particular session of the state legislature later this yr to deal with the issue.
On Fb, Bevin wrote that “For these retired, for these working, and for these but to return: we WILL repair our pension techniques.”
10:forty eight a.m.
Unbiased consultants have stated Kentucky wants an additional $seven hundred million a yr to save lots of its public pension techniques, and now lawmakers will hear some concepts on the place that cash might come from.
The Public Pension Oversight Board is scheduled to satisfy at 1 p.m. Monday to listen to the ultimate suggestions of an audit by the PFM Group. Kentucky’s public pension methods are among the many worst funded within the nation. Officers estimate the state is $33 billion in need of the cash it might want to pay retirement advantages over the subsequent 30 years.
In Might, the PFM Group advised lawmakers they wanted an additional $seven hundred million a yr to save lots of the system. That is along with the $2 billion taxpayers are scheduled to spend on pensions this yr.