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Consultant proposes cutting some retiree’s pensions, moving state workers to 401 (k) plans

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FRANKFORT, Ky. — Many current state and local government retirees would see retirement benefits trimmed while benefits for most current and future public employees would be part of new 401(k)-style benefit plans under a report issued Monday by a consulting firm.
The firm, PFM Consulting Group, recommended an array of dramatic changes to reduce state and local government risk and to gain control over Kentucky’s public pension liabilities of more than $40 billion.


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The Grant County News | circulation@grantky.com | 859-824-3343
1406 N Main St, Ste 2, Williamstown, KY 41097
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