Ky. Teachers Seek Help On Pension Plans
The Kentucky Teachers' Retirement System is asking lawmakers to take action to keep pensions solvent.
The Courier-Journal reports the KTRS wants lawmakers to issue bonds during the next legislative session.
Supporters say the move would stabilize the pension plan, which has $13.8 billion in unfunded liabilities, and reduce taxpayer costs in the long term. Critics of pension bonds say the move would add up to borrowing more money to pay off debt.
Two options have been proposed: one that involves a $1.9 billion bond, and one that involves a 3.3 billion bond.
It isn't clear whether the proposal could gain enough support to pass the session that begins in January.
Democratic House Speaker Greg Stumbo said the proposal may require a three-fifths supermajority to get approval, but he urged lawmakers to consider it.