Another state with pension problems

Hit and Run: "Kentucky Launches Special Session to Deal With State's Public Pension Crisis."

This is a completely unsustainable course... If the state's teacher pension system earns only 3.8 percent annually instead of the 6 percent returns that are baked into the plan's assumptions, it will be out of money by the mid-2030s.

In other words, a new college grad hired as a teacher in a Kentucky public school is being told to trust a retirement program that will likely implode before he or she turns 40. Seems like a big leap of faith.

The mid-2030s are going to be tough all over for retirement plans:

Considered separately, the DI Trust Fund reserves become depleted in 2032 and the OASI Trust Fund reserves become depleted in 2034. In last year’s report, the projected reserve depletion years were 2028 for DI and 2035 for OASI.

It seems cruel to tell people their money will be there, when it won't.