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Looks Like Teachers Really Do Need To Worry

February 15th, 2013 · 2 Comments

Yes, kids, Kentucky’s teachers need to worry.

From the actuarial letter on December 11, 2012 (Warning: External PDF Link), page 80:

In our opinion, the System is not being funded on an actuarially sound basis since the actuarially required contributions are not being made by the employer.

KTRS has averaged around 75% sound. KERS was roughly 50% sound.

On page 82?

54.5% funded – or unfunded by $12.2 billion.

This is why Kentucky can’t have nice things.

And it’s why people like Damon Thayer are talking out of their behinds when claiming that everything is puppies and rainbows with pensions.

Tags: Corruption · Education

2 responses so far ↓

  • 1 E // Feb 15, 2013 at 2:00 pm

    Something for the teachers to do their homework on when endorsing candidates in the future.

  • 2 JohnQPublic // Feb 15, 2013 at 4:47 pm

    The state’s total revenues for 2011-2012 were approximately $2 billion. They will never get this nor the state and city pensions fully paid off.
    The whole thing is going to come crashing down.