WKYT | Lexington, Kentucky | News

Beshear undecided on bonding to shore up pensions

FRANKFORT, Ky. (AP) - Gov. Steve Beshear says he hasn't reached a conclusion on whether Kentucky should borrow enough money through the sale of government bonds to shore up the pension systems for state and local employees.

The state employee retirement plan faces a $19 billion shortfall. Add to that the financial woes in plans covering local government employees, state police, teachers, lawmakers, judges and other court workers, and the shortfall reaches $30 billion.

Beshear told reporters Tuesday that he considers discussions about a variety of possible solutions to be beneficial. He didn't rule out the possibility of calling lawmakers into special session before the end of the year to deal with the pension issue.

The Task Force on Pension Reform has been holding public meetings to identify ways to resolve Kentucky's pension crisis.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 171278931 - wkyt.com/a?a=171278931
Gray Television, Inc.