Kentucky pension funds earn $1.4 billion in fiscal 2018
FRANKFORT, Ky. (AP) — Investments in Kentucky’s state worker pensions earned more than $1.4 billion during the 2018 fiscal year, good news for one of the country’s worst-funded pension systems.
Kentucky Retirement Systems says in a release that its total assets increased to $17.4 billion as of the end of the fiscal year, June 30.
According to the most recent figures provided by the pension office, the state was about $27 billion short of what it needs to pay retirement benefits over the next 30 years. A spokeswoman said Monday that figure doesn’t include the fiscal year-end results.
Public school teachers came out in droves earlier this year to protest cuts proposed by Kentucky Gov. Matt Bevin. A reform law passed by the legislature and signed into law by Bevin is being challenged in court.