From The Lexington Herald-Leader: ‘We were promised a pension.’ Thousands of KY public workers face uncertain futures.
Thanks to Liles Taylor for sending us this.
By JOHN CHEVES
LANCASTER -- J Smith — his first name is just one letter, his grandfather’s middle initial — earned $45,000 in 2004 as a shift coordinator at the Corning Inc. glass plant in Harrodsburg. But Smith’s degree was in public health. That’s what he wanted to do. So he took a pay cut to $31,000 to work as an inspector at the Garrard County Health Department, keeping area residents safe at their homes, schools and restaurants.
His new job came with a state pension. These pensions are modest — $21,587 on average — but guaranteed for life. After Smith was enrolled in the Kentucky Retirement Systems, he contributed 5 percent of his paycheck. The health department that first year matched it with the equivalent of 5.89 percent of his salary.
Pensions are the most attractive part of the state employment package, Smith said.