Kentucky's Zombie of a Pension Problem
"The effect has caused the state’s credit rating to plummet, increased interest rates on bond debt used to fund construction projects and forced lawmakers to seriously consider tax reform.
In other words, Tobe says, the undead chickens are coming home to roost: Kentucky’s pension liability remains one of the worst in the nation, at upwards of tens of billions of dollars, and Tobe says that an attempted legislative fix pass by the General Assembly last year is only slowing the decay in lieu of massive structural changes in Kentucky’s revenue stream."
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