The Kentucky House of Representatives voted to approve a bill that would move participants in the Kentucky Teachers’ Retirement System, Frankfort, to a hybrid plan.
The House voted 68-28 in favor of the bill, which creates a tier for teachers hired after Jan. 1, 2022.
Rep. C. Ed Massey sponsored the bill because the $21.6 billion pension fund “has a huge unfunded legacy,” he said in a telephone interview.
Author(s): ROB KOZLOWSKI
Publication Date: 8 February 2021
Publication Site: Pensions & Investments