The Kentucky Teachers’ Retirement System Funding Work Group submitted its 18-page report to state leaders on Dec. 4, 2015, after eight meetings where the 25 members searched for ways to address the unfunded liability of educators’ pensions.
While no comprehensive recommendation was made, the group’s efforts prompted dialog that is ongoing among stakeholders and that could produce a consensus solution before the legislature convenes in January. The group’s efforts identified possible components of a funding solution and guiding principles to be used going forward.
The group suggested the state reach full funding in 30 years by 2046 and that the Inviolable Contract be honored. Failure to find a solution in the 2016 General Assembly will continue to hurt the state’s credit rating, the work group found. The group also recommended that savings from revenues currently going to KTRS, for items such as debt service on bonds issued to pay cost of living increases, be dedicated to the pension plan as the current obligations are retired.
Below are the archived materials from the Funding Work Group’s website for each of the group’s meetings.
Meeting information and presentations