Shouldn’t pensions be based on time worked?
You and I know this. Apparently, though, our state government does not.
Kentucky Retirement Systems allows some state employees to purchase what is called“air time.” This practice allows workers to purchase credit for time not actually workedso that the “years of service” portion of the pension calculation formula can be padded.
This works out well for the state worker because they are able to begin drawing benefits sooner than they normally would. The loser in this deal is the taxpayer who must assume all financial risk in delivering retirement income for years not actually worked by the state employee.
With Kentucky’s public pension system $34 billion in debt, does it seem like a wise practice to allow state workers to be compensated for time they didn’t work?
Contact your legislator today and tell them that you want the issue of “air time” addressed immediately.
Learn more about Kentucky’s pension system here.