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Fitch Says Kentucky's Pension Reform Still Has Uncertainty
Governing Link to more items from this source
Apr. 14, 2013

"'The changes passed by the Kentucky legislature should allow the state to better manage its underfunded pension liability and have come sooner than many expected,' Eric Kim, Fitch Ratings' director of U.S. Public Finance wrote ... 'But, in our view, the overall challenges to the state remain, and the plan exerts additional budgetary pressure.' The reform requires the state to begin fully funding its actuarially calculated annual required contribution (ARC) into the Kentucky Retirement System by 2015 ... The state has taken breaks or underfunded its retirement plan for years, which has led to its status as one of the worst-funded systems in the country."

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