Pension Trustee Advisors (PTA) has conducted a review of the proposed changes to the pension and retiree healthcare benefits for current and future Kentucky public employees under Senate Bill 1 on behalf of the Kentucky Public Pension Coalition.
While the recommendations include adequate funding of the retirement systems, the changes to the pension benefits proposed are substantial and in many cases result in benefit levels lower than currently provided and lower than proposed in the August 28 PFM report.
This brief report will summarize our findings and provide an overview of areas which may need to be analyzed further.