Don't Do Anything Rash

Pension stampede 

Legislators from south central Kentucky addressed a packed room last night of public workers and retirees in Bowling Green concerned about how pension reforms will change their benefits. Among them was Terry Eidson who retired from state government in 2006.
"Employees and retirees are feeling a little devalued and demeaned in all this, and it just doesn't sit well," Eidson told WKU Public Radio.
Kentucky has a pension deficit of at least $30 billion, threatening the state’s ability to pay retirement benefits for current and future retirees. In order to return the pension plans to solvency, consultants have recommended an end to defined-benefit pensions for public employees in favor of less generous defined-contribution accounts and a raise in the retirement age to 65 for most workers.