SECTIONS Search E-edition Home News All News Business Communities Counties Crime Education Lexington Most Wanted Nation/World News Photos News Videos Politics Searchable Databases State Watchdog Columns Tom Eblen Sports All Sports UK Sports College Sports Next Cats Recruiting High School Horses Kentucky Speedway Lexington Legends Reds MLB NBA NASCAR NFL Sports Photos Sports Videos Columns John Clay's Columns Mark Story Next Cats Recruiting UK Sports All UK Sports Next Cats Recruiting Baseball Basketball - Men Basketball - Women Recruiting Ex-Cats Football UK Photos UK Videos More UK Sports Columns John Clay's Blog Mark Story Politics Politics Elections Entertainment All Entertainment Books Celebrities Comics Puzzles & Games Events … [Read more...] about Kentucky pension overhaul has failed twice. Republicans should try a new approach.
Reform pension board
Scott County Superintendent Kevin Hub said on Facebook: “Since the passage of SB 151, dozens of teachers have requested subs for tomorrow. We can currently only fill 54 of the nearly 150 that we need. That leaves too many classes not cSpring Break, but I also want everyone to return on Monday, April 9 with their focus on doing what's best for kids. Let's show our children, their parents, and our community what really matters to professional educators.” … [Read more...] about ‘Drastic measures.’ Teachers stay home, districts cancel school after pension vote.
The suit targeted only Towers' work for the firefighters' pension fund, but the city as part of the settlement agreed to dismiss that case and not to sue Towers over its work for the police or municipal workers' pension funds during the same period. Towers' actuarial reports were commissioned by the worker-controlled pension boards; the city did not seek second opinions on Towers' projections. … [Read more...] about Houston council approves $40M pension settlement
Some states have made an effort to rein in pension costs. Rhode Island lawmakers passed the Rhode Island Retirement Security Act of 2011, which increased the retirement age and suspended cost-of-living adjustments. State Treasurer Seth Magaziner says the reforms are saving the state and cities about $300 million per year, and he estimates that Rhode Island will be fully funding the pension by 2036. "The challenges facing public pensions systems in America did not arise overnight, and they're not going to be fixed overnight," he says. "The longer they wait to do something, the more painful it's going to be." … [Read more...] about What we can learn from one mayor’s pension reforms
The unfunded debt fell to $28.8 billion, from $32.2 billion at the end of 2016. The debt would have fallen further, but there was a surge in retirements last year. … [Read more...] about PERA finances improve following reforms