FRANKFORT, Ky. (AP) — A panel of lawmakers has heard recommendations for reforming Kentucky's public pension plan in an effort to make it solvent.
The Courier-Journal and the Lexington Herald-Leader report that the options were presented Monday to a state task force by the Pew Center on the States and the Laura and John Arnold Foundation. Their recommendations included decreasing tax credits, issuing pension bonds, requiring bigger employee contributions and paying out less to future workers.
The state's pension systems are facing unfunded liabilities of $33 billion. Lawmakers say they hope to pass a reform effort during next year's legislative session.
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