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Retirements, Questions Increase as Pension Changes Loom in Kentucky
By: Associated Press
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FRANKFORT, Ky. (AP) – Public employees in Kentucky are flooding the offices of the state’s largest pension systems after state lawmakers have vowed to make changes to one of the worst funded retirement plans in the country.
State workers can retire the first of every month. Retirements Aug. 1 were up 11 percent compared to last year in the Kentucky Retirement Systems. Phone calls were up 23 percent and appointments increased nearly 18 percent since July 1.
Teacher retirements were down slightly for the first three months of the fiscal year, but visitors seeking information increased 18 percent in August.
Monday, a state-funded analysis recommended big changes to the system that were unpopular with many state employees. Republican Gov. Matt Bevin has promised to give workers time to consider their options before making changes.