Panel looks for fixes to Teachers’ Retirement System

FRANKFORT, Ky. (AP) — A work group formed by Gov. Steve Beshear has started trying to craft recommendations to shore up the Kentucky Teachers’ Retirement System.

The group’s chairman, former state Sen. David Karem, said Friday that Beshear gave him no instructions on how to deal with the problem.

Karem says he has no preconceived ideas on any recommendations.

The Lexington Herald-Leader (http://bit.ly/1fdx03m ) reports the group met for nearly four hours Friday.

The panel has until Dec. 1 to provide recommendations to Beshear, who leaves office days later, on how to lessen the teachers’ retirement system’s massive unfunded liability. The system serves more than 75,000 active and more than 45,000 retired members.

___

Information from: Lexington Herald-Leader, http://www.kentucky.com

©2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.