WAVE 3 News Editorial - July 23, 2015: Unfunded Liabilities - wave3.com-Louisville News, Weather & Sports

WAVE 3 News Editorial - July 23, 2015: Unfunded Liabilities

LOUISVILLE, KY (WAVE) - It was a good fiscal year that just ended for the Commonwealth of Kentucky.

Nearly $10 billion in revenue for the General Fund collected, exceeding budget estimates by $135 million. The surplus helped replenish the rainy day reserve fund in case future years see revenue shortages.

Of course, this reserve fund wouldn't even put a pin prick on the unfunded liabilities of the Kentucky Retirement Systems for public employees and The Kentucky Teachers Retirement System for teachers.

The two total more than $30 billion.     

Before Governor Steve Beshear leaves office he owes it to all of those retirees and soon to be retirees to insure their retirement will be as solvent as his. His leadership can make a difference in implementing plans put forward by the task force he appointed to help address this matter, and changes the legislature might pass to do so as well. 

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