False claims of a crisis & even insolvency for the pension plans because of today's Supreme Court ruling. Let's be clear: those saying so have no analysis to back them up. (1/6)
First of all, KY's retirements plans have $38 billion in assets in total (money that is invested). Those funds have built up through past contributions as well as investment returns. That's an amount equal to 18% of KY's entire economy. Not money that's about to run out. (2/6)
Second, employers & employees make contributions every year, and the $38 billion earns investment returns. We returned to responsible funding in '14 for KERS/SPRS & '17 for TRS. Plans will improve through steady funding, & no one is proposing we underfund again. (3/6)
That's shown in the actuarial analysis to the sewer bill itself. All the KRS plans will see gradual improvement with steady funding and no changes. (4/6) 
And the sewer bill made no material difference in the health of the teachers' plan, which will improve over time through consistent funding, as the system's actuary shows. (5/6)
If anything, sewer bill increased risk especially for the poorest-funded plan--KERS non-haz--by creating a 401a DC option employees could choose instead. The more who choose it, the less the contributions to the existing plan. Actuary predicted 25% could end up in 401a plan.(6/6)
See full analysis of SB 151 here kypolicy.org/reenacting-pen…
