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KRS estimates Governor’s budget plan would result in $83M pension shortfall

KRS estimates Governor’s budget plan would result in $83M pension shortfall

By FRANKFORT, Ky. (WYMT) - that Governor Andy Beshear’s budget plan would result in tens of millions less in pension contributions than Kentucky Retirement Systems had expected. In public testimony Thursday, KRS Executive Director David Eager estimated the shortfall at around $83 million a year. Governor Beshear's office challenged that figure, estimating the shortfall to be closer to $25 million a year. Governor Beshear had included roughly $100 million in his two-year budget to help public employers subsidize partial pension relief. “Under Gov. Beshear’s plan, $110 million more for the...

February 1, 2020
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