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Public pensions to benefit from state surplus

AUGUST 26, 2019 | THE RIVER CITY NEWS (KENTUCKY)

“Kentucky’s $130.1 million General Fund surplus from last fiscal year will go toward the state’s ailing public pension systems, state budget officials told lawmakers Tuesday. Deputy State Budget Director Kevin Cardwell told the Interim Joint Committee on Appropriations and Revenue that $70 million of the surplus has been appropriated to bolster the medical insurance fund under the Teachers’ Retirement System in Fiscal Year (FY) 2020.” 

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