{"id":15986,"date":"2017-10-18T13:09:17","date_gmt":"2017-10-18T17:09:17","guid":{"rendered":"http:\/\/www.wvih.com\/wp1\/?p=15986"},"modified":"2017-10-28T13:02:03","modified_gmt":"2017-10-28T17:02:03","slug":"governor-unveils-a-plan-to-resolve-pension-problem","status":"publish","type":"post","link":"https:\/\/www.wvih.com\/wp1\/index.php\/2017\/10\/18\/governor-unveils-a-plan-to-resolve-pension-problem\/","title":{"rendered":"Governor Unveils A Plan To Resolve Pension Problem"},"content":{"rendered":"

\"\"
\nGovernor Matt Bevin unveiled \u201cKeeping the Promise,\u201d a comprehensive plan addressing Kentucky\u2019s $40 billion public pension problem.<\/p>\n

Senate President Robert Stivers and House Speaker Jeff Hoover joined Bevin at the news conference Wednesday (10\/18) to unveil the plan. Bevin said if the plan passes it would likely fix the problem within 34 years. Bevin called it a plan that will address the moral and legal obligations they have made to the workers under the pension program. <\/p>\n

The new plan requires a full payment of the Actuarily Required Contribution and a new formula that mandates hundreds of millions more into every retirement plan. One of the biggest highlights made in this plan is that they are now moving to a 401K type contribution plan for all future, non-hazardous employees. This includes teachers and other government workers who are not in a physical line of duty.<\/p>\n

They also ensured that those who are in the line of duty and those who will be a part of the hazardous work line will not see any changes to their plan even for future employees. Another very important point Bevin addressed was that for current retirees there will be no clawback or health care benefit reduction. <\/p>\n

The physical changes he said are mandatory if they plan on no longer kicking the can down the road.<\/p>\n","protected":false},"excerpt":{"rendered":"

Governor Matt Bevin unveiled \u201cKeeping the Promise,\u201d a comprehensive plan addressing Kentucky\u2019s $40 billion public pension problem.<\/p>\n","protected":false},"author":3,"featured_media":4840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[59],"tags":[],"class_list":{"0":"post-15986","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.wvih.com\/wp1\/wp-content\/uploads\/2016\/04\/Gov-Matt-Bevin.jpg?fit=750%2C999&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6aKAp-49Q","jetpack-related-posts":[],"jetpack_likes_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-05-01 02:13:06","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts\/15986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/comments?post=15986"}],"version-history":[{"count":1,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts\/15986\/revisions"}],"predecessor-version":[{"id":15987,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts\/15986\/revisions\/15987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/media\/4840"}],"wp:attachment":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/media?parent=15986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/categories?post=15986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/tags?post=15986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}