FRANKFORT — Kentucky’s budget woes could have long-lasting effects on the roughly 445,000 Kentuckians who rely on state-run retirement programs, pension officials warned this month.
Preliminary projections suggest the state will have about $1.2 billion less to spend over the next two years. That grim outlook has key lawmakers and Gov. Steve Beshear waffling on their 2008 pension funding pledge, even as a $16.6 billion unfunded liability threatens to drain the retirement system of cash as soon as 2017.
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