Wondering why the pension system in Kentucky is jacked?
Because of people like Todd Hollenbach.
From a release:
Kentucky Treasurer Todd Hollenbach, ex-officio board member of the Kentucky Teachers Retirement System(KTRS), praised House Speaker Greg Stumbo for taking action to shore up the unfunded liability of the pension system for teachers.
“I wholeheartedly support Speaker Stumbo’s proposal to authorize the issuance of bonds to refinance the pension debt and take advantage of the current favorable interest rates. It is a welcome example of legislative leadership to push this fiscally responsible initiative”, Treasurer Hollenbach stated.
“The KTRS board has been doing all it can but legislative involvement is critical to any long term solution,” Hollenbach added. “This action today by Speaker Stumbo is the best way right now to make KTRS whole and secure the future for our teachers”