Social and Behavioral Sciences Commons^™

Public Policy And Market Reality: Analyzing The Unfunded Liability In The Kentucky Non-Hazardous Employees' Retirement System, Kelly Dudley

MPA/MPP/MPFM Capstone Projects

In 2006, an issue of serious concern to state legislatures was the long-term security of the defined benefits that state and local public pension plans promise to current and future retirees (Snell, 2006). Public pension systems are growing in terms of members and the benefits they offer to their members. Part of this group includes the estimated 77 million baby-boomers who will be living the next 20 to 30 years in retirement (Wharton, 2006). These dynamic changes are raising the burden public pension plans place on government operating budgets. Expecting a large number of their employees to retire, public administrators …