WARNING: Kentucky has only 13 percent of state pension money owed over next 30 years
Officials say state taxpayers will be paying a significantly higher price to keep pensions solvent.
LOUISVILLE, Ky. (WDRB) -- Kentucky's worst-in-the-nation public pension system is now worse than ever.
The state's pension debt grew by nearly $2 billion dollars on Thursday. That's because the Kentucky Retirement Systems board of trustees made dramatic changes to long-held investment assumptions.
Those changes mean Kentucky now has only 13 percent of the money it owes to retirees over the next 30 years.
Ultimately, state taxpayers will pay the price, paying significantly more to keep it solvent. Just how much won't be known until later this year.
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