Just this week, Kentucky’s Superintendents and teachers groups released their version of a plan to fix Kentucky’s pension system.
Unlike the Governor’s plan which would require current teachers to pay 3% more toward their benefits, the new plan from the education groups removes that requirement. It also allows all teachers to remain in the current defined benefit style plan. Advocates of the “shared responsibility plan” admit it won’t help address the funding problem. They say lawmakers must come up with new money by modernizing Kentucky’s tax code.
During an exclusive interview Thursday with the Mountain Advocate, Governor Matt Bevin addressed teachers, those in Frankfort and elsewhere, protesting against his plan to fix Kentucky’s pension problem. “I think people don’t understand the severity of this problem,” He said. “The money is about to run out.”
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