Governor, Lawmakers Await Pension Recommendations
A much anticipated report is coming out today on Kentucky’s troubled retirement system for public employees.
A consulting group hired by Governor Matt Bevin’s administration will issue recommendations on how to address the unfunded liability that stands at more than $40 billion. The deficit threatens future retirement and health benefits for public employees.
State Senator Joe Bowen of Owensboro co-chairs the Public Pension Oversight Board. He says any solution
must include more revenue going toward pensions and some changes in benefits.
"Certainly the plan will look different for people hiring on the future," Bowen said. "I think for folks already retired, there won't be any difference to them that I see."
Governor Bevin has recently posted Facebook videos where he tried to allay concerns that lawmakers will cut their benefits, but he’s offered few details about how he plans to fix the system. Bevin is expected to present his proposal to lawmakers before calling a special session likely in October.