Some Kentucky workers want to opt out of state pension system - WDRB 41 Louisville News

Some Kentucky workers want to opt out of state pension system

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LOUISVILLE, Ky. (WDRB) -- Some Kentucky workers want to protect and save their retirements by moving out of the failing state pension system.

The workers are part of the County Employees Retirement System, or CERS, and they want to separate from the state system, which includes city and county employees like police and firefighters.

The Kentucky League of Cities put on a forum Monday night in Lexington.

The group wants local control for local pensions, claiming CERS is not in trouble and that changes to the overall pension program could hurt retirements.

"We are being very thoughtful in our approach here, because we want to save our public pensions, while also being fair to the taxpayers who fund the public pension system," said Majority Leader Senator Damon Thayer.

The state pension system is underfunded by some $40 billion.

Kentucky Governor Matt Bevin is expected to call a special session later this year to deal with the pension crisis.

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