The Kentucky Teachers’ and Employees’ Retirement Systems will get a $50 million boost if Governor Fletcher gets his way.
Fletcher has asked lawmakers to take the money from the projected general fund additional revenues and add it into the state’s retirement systems.
He wants it added to the Kentucky Employees Retirement System and the Kentucky Teachers’ Retirement System.
Fletcher has traveled across the state in recent weeks to talk with Kentuckians about their concerns. He said public employee pensions were a high priority in most areas.
Fletcher hopes the move will head off some of the projected liabilities for the system. The state hopes to avoid reductions in health benefits and actual pension payments.
Fletcher also established a Blue Ribbon Commission on public employees’ retirement systems. The 23 member commission will work to find ways to fulfill Kentucky’s retirement obligations.