The state of Kentucky currently has one of the worst underfunded public pensions systems within the United States.  The Bluegrass Institute believes that past pension promises to retired employees must be kept despite the large cost to our state.  We also believe, however, that transparency, accountability, safeguards and best practices need to be traits synonymous with the pension system.  The Bluegrass Institute was an early voice calling for pension reform when it published Future Shock in 2011.  A few years later the organization then published Pension Shock, which details the unsavory and illegal activities that resulted in the current underfunded status of the pension system.  Over the years, the Bluegrass Institute has been a force in helping to bring additional transparency, accountability and funding to the systems.  Much has been accomplished however more needs to be done.