Pension Reform Struck Down

By Richard Nelson

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June 25, 2018

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Remember the howls of protest over the pension reform bill back in the spring? The bill put new teachers into a hybrid retirement plan and stopped the accumulation of sick days that could be used for retirement. This was done in order to save the system which is going broke. But Franklin Circuit Court Judge Phillip Shepherd struck it down as unconstitutional. Attorney General Andy Beshear argued that teachers have an "inviolable contract" and essentially that no changes could be made once a teacher is hired. Gov. Bevin's attorneys disagreed and are appealing the ruling to the State Supreme Court. One thing is for certain, Kentucky's state retirement system is the worst funded in the nation. And if dramatic changes aren't made in the near future, there'll be nothing left to argue about.

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Director, Commonwealth Policy Center