Kentucky pension crisis: A closer look at what 'Frontline' found [View all]

FRANKFORT, Ky. – Years of underfunding by politicians who resisted tax increases and risky investments by Kentucky Retirement Systems created a multibillion-dollar pension crisis that threatens the retirement security of Kentucky teachers, police, firefighters and other public employees.

That’s the conclusion of an hour-long report called “The Pension Gamble” by the PBS investigative documentary series "Frontline" that aired Tuesday night on KET.

“The teachers are afraid of what the future holds. The pensions of some other Kentucky state workers are facing insolvency in around three years,” "Frontline" reported. “Teachers worry that when the time comes for them to retire, the state won’t have the money to pay their pensions.”

The report recaps how Kentucky’s public pension plans that were fully funded in 2000 devolved to become among the very worst-funded plans in the country, officially carrying more than $37 billion in unfunded liabilities – a figure Gov. Matt Bevin says in reality is worse.

Read more: https://www.courier-journal.com/story/news/politics/2018/10/24/kentucky-pension-crisis-frontline-report-blames-underfunding-hedge-funds/1743292002/