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The report was commissioned by a coalition of labour groups representing public employees in Kentucky, writes Sonka. The government is reviewing a study which recommends “dramatic changes” to the state’s pension plans, including moving to a 401 (k) scheme.
“This debate around public pension reform comes as Gov. Bevin is expected to call a special session of the Kentucky General Assembly in the coming weeks to tackle legislation on this issue, with a proposed bill set to be revealed by the governor and Republican legislative leaders Wednesday afternoon. Bevin lauded the report when it was released in late-August, though adding that his bill was not likely to exactly mirror the PFM recommendations,” he continues.
More: Report asserts workers would be left without adequate retirement income.