The Kentucky Senate is looking to overhaul the state’s pension system for teachers and government employees. The plan is to keep the system from a financial collapse.
The Senate’s proposal would add more than $500 million into the state pension system this year.
Kentucky Senate President David Williams said it would also change benefits for future employees. Williams said state government would fund the plan by selling pension bonds.
Currently the retirement system for state employees has about $12 billion in unfunded liabilities over the next 30 years.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.