Kentucky public retirees could lose cost-of-living hikes
The repeals of COL increases are part of an effort to rein in a growing unfunded liability that now exceeds $30 billion, including a 401(k)-style plan for new employees.
By Roger Alford, Associated Press | Updated on November 21, 2012
FRANKFORT, Ky. (AP) — A legislative group asked to find ways to shore up Kentucky's public pension system recommended Tuesday the repeal of built-in cost-of-living increases for government retirees.
That was among a list of proposals made by the Kentucky Public Pensions Task Force to rein in a growing unfunded liability that now exceeds $30 billion.