Future Shock: Legislators stoking the coals on Kentucky’s runaway pension train

For Immediate Release: Contact: Jim Waters Thur., Jan. 5, 2012 270-782-2140 Future Shock: Legislators stoking the coals on Kentucky’s runaway pension train (right-click & save target as…) A failure to meet pension-payment requirements 11 of the last 15 years leads to a 3,000 percent increase in the Bluegrass State’s unfunded liability since 2000 (FRANKFORT, Ky.) –…

‘Air time’ and public pension funding

USA Today has a package of stories on public pensions. Specifically, the stories explain how the purchase of “air time,” a method of pension spiking, contributes to pension funding problems. In short, “air time” is credit for work not performed. Workers can pay for this extra service credit as a share of their current salary.…

Does Kentucky need another taxpayer-supported university?

Should the private University of Pikeville become a state-run institution? Not surprisingly, Paul Patton, the school’s president and former Kentucky governor, thinks so. The Lexington Herald-Leader reports that Patton believes “the move would benefit Eastern Kentucky by lowering the cost of attending Pikeville, making higher education accessible to more people. The annual cost to attend…