The Kentucky Teachers' Retirement System is running out of
money. Officials say the system has a little more than half of the money it
needs to continue making benefit payments to retired teachers. Officials asked
lawmakers to borrow $3.3 billion to help stabilize the system, and the
Democratic-controlled House of Representatives approved it.
But Senate Republicans want to wait a year before approving what
would be the largest loan in state history. Monday, a Senate committee amended
the bill to create a task force to study the problems facing the teachers'
retirement system. Republican Senate President Robert Stivers said lawmakers
would address the funding issue next year once the study is complete.
