Kentucky isn’t in denial. It knows it’s got the worst funded pension in the country.
A dire report paid for by the state delivers the bad news, based on an analysis of state and national figures on state retirement systems.
Without changes, at least one of Kentucky’s plans will be insolvent within the next five years, according to the report authored by PFM Group, which presented its findings to the state’s Public Pension Oversight Board May 22. Even if the state’s eight funds achieved their targeted investment return rates of 6.75 percent, the funds would still have an unsustainable $33 ...
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