Watch the above video for an in-depth discussion on the problems and politics surrounding the Kentucky Retirement Systems and potential solutions to the funding woes that plague the system, in particular the “non-hazardous” portion of the system.
The interviewee is Jim Carroll, who runs the Facebook group Kentucky Government Retirees and has taken an active role in raising awareness among citizens and pushing lawmakers for change.
As Carroll points out in the video: “There aren’t any good answers to this [funding shortfall].”
There are, however, options to improve the system’s health – although none are particularly pleasant.
The KERS non-hazardous plan is among the unhealthiest in the country. The system is only 23 percent funded and is one market downturn away from complete insolvency.