FRANKFORT, Ky. (AP) - Gov. Steve Beshear has appointed a work group to study the financially struggling Kentucky Teachers’ Retirement System.
Beshear appointed 19 people to the group Tuesday. Four lawmakers are to be added by legislative leaders.
Lawmakers failed to reach an agreement this year on what to do with the retirement fund, which is projected to run out of money by 2036 if it isn’t stabilized. House Democrats passed a bill to borrow $3.3 billion to prop up the system for another eight years, but Senate Republicans balked at the prospect of going into debt to pay off a debt.
Democratic House Speaker Greg Stumbo and Republican Senate President Robert Stivers praised the appointment of the heavily Democratic work group in a news release from Beshear’s office. But House Republican Floor Leader Jeff Hoover said in a separate news release that he was disappointed the group was not more independent and nonpartisan.
Copyright © 2021 The Washington Times, LLC.