Issue Position: Pension Reform

Issue Position

It's time for a Governor who will deal with Kentucky's unfunded pension liabilities that are in excess of $20 billion and, based on more realistic actuarial assumptions, likely more than double that amount. Continuing to ignore the problem is a threat to public safety, education and other viable government services.

The Bevin-Hampton plan will revamp our public retirement system while ensuring that we meet the existing obligations we have made to retired state workers. This starts with instituting an immediate freeze on the expansion of participants in our current pension plans and implementation of a 401(k) type of defined contribution plan for new employees.

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