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\nKentucky Governor Matt Bevin’s administration has launched a pension reform website ahead of a likely special session of the state legislature to address the state’s struggling retirement system.<\/p>\n
\nKentucky Governor Matt Bevin’s administration has launched a pension reform website ahead of a likely special session of the state legislature to address the state’s struggling retirement system.<\/p>\n
The state budget director’s office launched KentuckyPensions.com on Thursday (8\/17). In a news release, Bevin’s office says the state is $64 billion short of what it needs to pay retirement benefits over the next 30 years, a debt that amounts to $15,000 for every Kentucky resident.<\/p>\n
Officials with Kentucky’s various pension plans report a combined shortfall of nearly $33 billion. Bevin’s numbers are higher because he is using estimates provided by consultants that make different assumptions about the retirement system’s future.<\/p>\n
Regardless of the numbers, Kentucky’s retirement systems rank as one of the worst funded systems in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
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