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.