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An Official Website of the Commonwealth of Kentucky
Understanding the Issues & FAQs
Which pension systems are in trouble?
Why should everyone care about Kentucky’s pensions?
Pension plans are complicated -- how do they work?
How should a Defined Benefit Plan be funded so that there is enough money to pay my retirement benefits?
How does the funding of Kentucky’s pension plans compare to other states?
Is the funding status of the plans improving?
Why has pension funding declined?
At current funding levels, will the plans always have enough money to pay benefits?
Is the statutory funding formula (percent of payroll) appropriate?
Should the ARC be funded every year?
Compared to other states, are the Commonwealth’s employees well compensated?
What will happen in the near future?
What is “actuarial back-loading?”
Do changes in the actuarial assumptions drive up the cost of pensions? (NEW)
CERS has been paying the full ARC. Why are they underfunded?
The TRS and CERS-NH plans are in good shape -- aren’t they?
News & Events
Current Plan Benefits
Pension Performance & Best Practices Analysis
Reports presented by PFM Group Consulting LLC
Report #1 - Transparency and Governance
Report #2 - Historical and Current Assessment
Index to Report #2 with links to report
Full Report including Appendix
Report (excluding Appendix)
PFM Presentation to Public Pension Oversight Board (5/22/2017)
PPOB Committee Meeting Minutes (6/26/2017)
Report #3 - Recommended Options
PFM Briefing Presentation, Aug. 28
PPOB Pension Presentation, Aug. 28