Monday, April 6, 2009

Won't pay next year's bills, either

If you want proof Kentucky's $30 billion public employee benefits underfunding problem is going to get worse, you need only look at the chart below, from the Kentucky Retirement Systems web site. The numbers at the top reflect the contribution amounts that will go into the system in the year starting July 1. The bottom numbers are what the actuaries recommend.

I'm no actuary, but it seems legislative dilly-dallying last year combined with raiding and delaying payments this year might not have been the best way to go.

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