According to a consulting firm, Kentucky’s pension system for teachers has more money and less unfunded debt after the state legislature decided to fully pay its annual funding request. A report from Cavanaugh Macdonald Consulting showed the system’s investments grew by 9.14 percent and now the system has 57.7 percent of the money needed to pay that debt, although still about $14.3 billion short of the money it needs to pay retirement benefits over the next three decades. Pension system executive secretary Gary Harbin attributed the improved numbers to the legislature’s spending contributing more than $2 billion to the system over the past two years. Last year, the system had 56.4 percent of the money required to meet its obligations.
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