News
Kentucky Pension Funds Earn $1.4 Billion In Fiscal 2018
By: Associated Press
Posted on:
FRANKFORT, Ky. (AP) – Investments in Kentucky’s state worker pensions earned more than $1.4 billion during the 2018 fiscal year, good news for one of the country’s worst-funded pension systems.
Kentucky Retirement Systems says in a release that its total assets increased to $17.4 billion as of the end of the fiscal year, June 30.
Earlier this year, the state was about $41 billion short of what it needs to pay retirement benefits over the next 30 years. Calls and messages to the pension office for an updated liability number were not returned Monday.
Public school teachers came out in droves earlier this year to protest cuts proposed by Kentucky Gov. Matt Bevin. A reform law passed by the legislature and signed into law by Bevin is being challenged in court.