Governor Bevin seeks redo of pension analysis
LOUISVILLE, Ky. (AP) – Kentucky Gov. Matt Bevin’s administration is asking consultants to redo their analysis of how much his proposed overhaul of the teachers’ pension system would cost taxpayers.
Bevin’s administration signaled Tuesday it doesn’t like assumptions used by consultants in their analysis of the Teachers’ Retirement System.
The redo request comes as Bevin considers convening a special legislative session to deal with one of the country’s worst-funded public pension systems.
The original analysis said Bevin’s pension overhaul bill could cost taxpayers an extra $4.4 billion over 20 years to fund retirement benefits for public school teachers. That projection assumes more teachers would retire early and the state would earn less on its investments
Bevin’s administration has not released of a similar analysis of the pension system for state and local workers.