{Frankfort,
Kentucky}…In hopes of reining in a growing unfunded liability that now exceeds
$30 billion, Tuesday, the Kentucky Public Pensions Task Force approved a list
of proposed reforms recommending a repeal of built-in cost-of-living
increases for government retirees. The proposals include the creation of a
"hybrid cash balance" retirement plan similar to a 401 plan for
employees hired after July 1, 2013. Not among the task force's recommendations
Tuesday was an earlier suggestion that the state take on more debt through a
bond sale to close the funding gap in the pension plans for state and local
government retirees.
