Friday, July 31, 2015

State falls short in saving for the future

Fewer than half of Kentucky’s 2012 workforce used a work retirement plan. In the shadows of unfunded liabilities in both of the state’s Kentucky Teachers’ Retirement System and Kentucky Employees Retirement System non-hazardous pension funds, workers who have saved for retirement saved less than their average 2012 earnings. According to the National Institute On Retirement Security’s report issued Thursday, Kentucky has a six out of 10 score and measures well against many states, but still has room for improvement.

For the full story, visit The State Journal online.