Kentucky’s local governments may have to contribute up to 60 percent more money next year to provide pensions for their employees, State Budget Director John Chilton warned city and county leaders in an email Thursday.Unless lawmakers make “structural changes” to the state’s public retirement systems this fall during a special legislative session, scores of local governments will have to make payments into the County Employees Retirement System that equal between 29 percent and 51 percent of their total payroll, depending on the type of employee involved, Chilton wrote.
The legislature, elected by voters to overspend, is now tasked with collecting the shirts from the backs of the voters, this is how he system works. The caveat, in bold: Unless voters decide to do the sensible thing.
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