Lexington is playing host to the 32nd annual Kentucky Public Retirees meeting. A big crowd with a vested interested in the issue gathered Thursday.
The hotel conference room was full of former state workers including George Hoffman, who worked for three decades in state transportation. He's optimistic the legislature will continue to monitor pension fund issues. "I've got hope that they won't let it just crumble, because there are people that really depend on it," said Hoffman.
Lieutenant Governor Crit Luallen addressed the retirees. Luallen said if the economy continues to grow, the state should have revenues to meet pension obligations. She says legislative remedies are helping to stabilize the fund. "If we follow through on commitments in that legislation and fully fund the recommendations for the retirement system that were provided each year, then the system will have stability and it will be on track to be secure for these retirees," said Luallen.
Kentucky's retirement system has only 22 percent of the money it will need for future expenses. ?
