A state lawmaker has pre-filed a bill for the 2016 General Assembly that would give a financial boost to Kentucky’s struggling retirement systems.
The legislation would stop the sweeping of excess funds from the Public Employees’ Health Insurance Trust Fund into the General Fund.
Under his bill, Representative Brad Montell, a Shelbyville Republican, said the surplus would instead be used to address the unfunded pension liability.
"We're not talking about small amounts of money here," Montell told WKU Public Radio. "We're talking about in excess of $160 million, and over time that can make a big difference."
Most recently, the reserve dollars have gone to help fund the state’s heroin law and the road fund. While they are worthy investments, Montell thinks money placed into an account for the benefit of public employees should be used for that exact purpose.
