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General Assembly Special Session on Pensions July 22, 2019 by Staff

The Kentucky General Assembly is in special session today and they're trying to fix the broken pension system. Well, at least they're trying to fix part of it.  The legislature is providing relief for regional universities, county health departments and many other quasi-governmental agencies faced with surging pension costs. Each of these groups are required by law to put significantly more into their pension system. However, one projection said that it would deplete local health departments budgets in 64 Kentucky counties to such an extent that they'd be forced to close within two years. Addressing the underfunded and structurally broken pension has been difficult. And this latest effort is just one piece to the complicated puzzle. It doesn't address the failing teachers or state worker’s pensions which has been the toughest part.



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