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There are additional cases I can find, but a quick search turned this up about Kentucky doing this to the state employee health insurance fund for nearly a deca
by dashundchen 9y ago
There are additional cases I can find, but a quick search turned this up about Kentucky doing this to the state employee health insurance fund for nearly a decade. I believe they have done this to the general pension fund as have other states.
If a state is going to have pensions they need to be independently managed and firewalled from the hands of politicians.
https://kypolicy.org/shifting-health-costs-employees-become-way-state-plugs-budget/ https://kypolicy.org/shifting-health-costs-employees-become-...
>Kentucky has shifted more of the responsibility to pay for health benefits to public sector workers in recent years and then used the savings to help fill holes in the budget. Even after these transfers from the employees’ health plan, its fund balance is continuing to grow, making it a target in the new budget. Governor Bevin’s budget plan includes transferring $500 million out of the plan in 2018 into a new “permanent fund.”
>Over a period of years, balances built up in the state’s plan as more was collected in employer and employee contributions than was paid out in claims. In recent years, the state began to transfer those monies to plug other holes in the budget. Kentucky transferred $50 million in 2009 and $93 million in 2015. For budget year 2016, the state will shift another $63.5 million from the plan to the state’s rainy day fund.