A Citizen's Guide to Kentucky's Pension Crisis | Page 6
KEY FACTS & FIGURES
Active
Employees
Retired
Employees
Annual Benefit
Total Actuarial
Payments Unfunded Liabilites
Funded
Ratio
39,289
38,827
$905,790,000
$10,008,682,909
19.0%
$125,272,000
$1,718,686,990
28.8%
$56,774,000
$338,745,630
62.2%
$17,000,000
-$76,606,957
120.4%
$615,335,000
$4,265,476,908
60.3%
$113,734,000
$910,370,377
68.7%
$200,134,000
$1,516,524,591
58.0%
$65,553,000
$416,308,115
72.3%
$54,766,000
$485,768,500
33.8%
$13,483,000
$87,036,770
65.8%
$1,741,456,095
$13,930,442,000
55.3%
$240,400,000
$2,887,745,000
18.1%
147,452 $3,243,507,095
$36,489,180,833
KERS Nonhazardous Pension Fund
KERS Nonhazardous Insurance Fund
KERS Hazardous Pension Fund
3,932
2,575
KERS Hazardous Insurance Fund
CERS Nonhazardous Pension Fund
82,969
48,515
CERS Nonhazardous Insurance Fund
CERS Hazardous Pension Fund
9,188
6,389
CERS Hazardous Insurance Fund
State Police Pension Fund
940
1,324
State Police Insurance Fund
KTRS Pension Fund
77,246
KTRS Insurance Fund
TOTALS
THE BASICS
213,564
49,822
A pension fund is considered to have unfunded liabilities or pension debt if the
fund does not have sufficient assets to pay the present and future liabilities of prom-
KENTUCKY EMPLOYEES
ised benefits. The funded ratio of a pension plan represents the value of assets in the
RETIREMENT SYSTEM
plan divided by the pension obligation. For example, a funded ratio of 50 percent
• $10 billion in unfunded liabilities
means a plan only has half the money needed to pay its outstanding liabilities.
• 19% funded
KENTUCKY TEACHERS’
The chart above shows key data for each of the main retirement funds, including un-
RETIREMENT SYSTEM
funded liabilities and funded ratio. The data include annual health insurance payments
• $13.9 billion in unfunded liabilities
under the retirement funds, which are part of the unfunded liabilities calculations.
• 55.3% funded
Source: 2015 Comprehensive Annual
Financial Reports, KTRS and KRS
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