state pensions

5:53 pm
Wed June 25, 2014

Seven Counties Court Ruling May Increase Kentucky Pension Costs

Credit Seven Counties Services

FRANKFORT — Kentucky state government could face increased pension costs if a court ruling is allowed to stand, state lawmakers were told on Wednesday.

The ruling, which is pending appeal, said quasi-governmental agencies such as Seven Counties Services can abstain from paying into the ailing state pension system.

If the appeals court agrees with the ruling, the state would have to cover $2.5 billion in unpaid pension obligations, Kentucky Retirement Systems executive director Bill Thielen said.

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4:57 pm
Mon January 7, 2013

Fischer, Gray Lead Call for Lawmakers To Shore Up Pension System

Louisville Mayor Greg Fischer
File photo

State and local officials, including Louisville Mayor Greg Fischer and Lexington Mayor Jim Gray, came together in Frankfort today to press for action to address rising pension costs. It’s a problem they described as fast approaching unsolvable.

David Draine, a senior researcher with the Pew Center on the States, made his case for adopting some or all of the recommendations made by a state pension task force.

"Without real reform, rising pension costs are going to threaten key public investments and things like education, public safety and infrastructure," Draine said.

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