LOUISVILLE, Ky. (WHAS11) – A group of consultants have pitched a plan to fix Kentucky’s pension crisis.
According to the consultants, the Commonwealth needs to come up with an additional $1 billion a year to keep its pension promises.
Their plan calls for most new employees to enter a 401K style retirement plan and raising the age at which employees can retire.
Governor Matt Bevin addressed the report in a question and answer session on Facebook Monday night and noted that he agreed the report had some good ideas.
Details are expected to be fleshed out soon with Bevin to call a special session this fall to vote on a pension reform plan.