Pension reform

With pension questions still unresolved, Eastern Kentucky University regents Thursday stressed the need for quick, unified action. The state recently approved House Bill 1 that requires universities and other state agencies to make a decision to stay or leave the Kentucky Employees Retirement System. The regents received a list of possible actions that include installment or lump sum payouts and the option for some employees hired before 2013 to remain in the system.

Richmond Register

The uncertainty regarding future pension contributions for Kentucky’s five major public universities is creating budgeting challenges.  Kentucky lawmakers could still be called to Frankfort to enact pension reforms before July, the start of the new fiscal year.