{Frankfort, Kentucky}...Governor Steve Beshear says he hasn't decided whether Kentucky should borrow enough money through the sale of government bonds to shore up the retirement pension systems for state and local employees. The plan faces a $19 billion shortfall. Add to that the financial woes in plans covering local government employees, state police, teachers, lawmakers, judges and other court workers, and the shortfall reaches $30 billion. The Task Force on Pension Reform has been holding public meetings to identify ways to resolve Kentucky's pension crisis. Beshear says he doesn't rule out the possibility of calling lawmakers into special session before the end of the year to deal with the pension issue.Tuesday, September 25, 2012
Beshear Considering Retirement Pension Shortfall
{Frankfort, Kentucky}...Governor Steve Beshear says he hasn't decided whether Kentucky should borrow enough money through the sale of government bonds to shore up the retirement pension systems for state and local employees. The plan faces a $19 billion shortfall. Add to that the financial woes in plans covering local government employees, state police, teachers, lawmakers, judges and other court workers, and the shortfall reaches $30 billion. The Task Force on Pension Reform has been holding public meetings to identify ways to resolve Kentucky's pension crisis. Beshear says he doesn't rule out the possibility of calling lawmakers into special session before the end of the year to deal with the pension issue.