From The Lexington Herald-Leader: Andy Beshear’s budget fully funds pensions, undercuts legislature’s pension bill
By DANIEL DESROCHERS
Gov. Andy Beshear fulfilled his campaign promise of fully funding the state’s pension systems in his recommended budget Tuesday while providing partial pension relief for quasi-governmental agencies that were facing a stiff increase in pension contributions and giving a 1 percent raise to state employees.
Beshear, who won a tough election last year in part because of a pledge not to make cuts to the state’s pension systems, said he will provide both the Kentucky Teacher Retirement System and the Kentucky Employees Retirement System with their full requested contribution amounts.
“My promise to you is simple: I will always contribute the required contribution amount to our pension plans,” Beshear said. “By doing this year after year, we’ll protect your pensions and guarantee each of you a solid retirement.”