pension

Kentucky’s public pension system, which officially faces an $18.1 billion unfunded liability, might be in worse shape than previously thought.

The bigger potential problem for Kentucky Retirement Systems means taxpayers could be on the hook for much more money to honor pension commitments to about 365,000 public employees, the Lexington Herald-Leader reported.

governor.ky.gov

Gov. Matt Bevin is calling upon the Kentucky General Assembly to make “bold, hard, decisions” when it comes to tax reform. 

During Wednesday State of the Commonwealth speech, Bevin said tax reform and further steps to reduce the state’s $82 million pension deficit need to be done together in a special session this year.  Bevin said some 300 tax loopholes deserve attention.

 “We exempt more income in Kentucky than we take in.  That’s going to have to change, ” Bevin said.


Kentuckians for the Commonwealth

Some 10,000 signatures were delivered to Sen. Mitch McConnell’s London office Monday asking the majority leader to support the Miner’s Protection and Reclaim acts.

On this week's edition of Kentucky Tonight, host Bill Goodman and guests will discuss public employee pensions.  The program that aired "live" on KET Monday night will be re-broadcast Tuesday morning at 11:00 on the WEKU Stations.

Lexington Fire Chief Bob Hendricks says he has a total and permanent occupational disability. His request for a disability retirement came before the Police and Fire Pension Board Wednesday morning, while the embattled chief remains on paid leave. Hendricks was asked resign from his post two months ago amid overtime and budget problems within the Division of Fire. He refused to step down.