US. Most Kentucky pension plans face billions in debts, but not the one for legislators

Despite many billions in public pension debts, Kentucky has a state pension fund that is literally overflowing with cash — the one reserved for legislators. Last week, lawmakers in Frankfort were briefed on the Fiscal Year 2021 performance of their Legislators Retirement Plan, which provides them with state-subsidized pensions and health insurance. Their $79 million pension plan has a funding level of 108.9 percent, which is up from 106.3 percent in 2020. Their retiree health insurance plan is 362 percent funded. By...