Kentucky State Surplus Mostly Going Towards Pension System

The state recently announced their 2019 surplus to be around $200 million.

(Frankfort, Ky.) - Kentucky's state budget office says most of the commonwealth's 2019 fiscal year surplus will go to the state's pension system.

Governor Matt Bevin announced last week that the state's surplus is near 200 million dollars, reports the NKY Tribune

The state budge office says $70 million will go to the Teachers Retirement System to help with post retirement health insurance. Another $60 million will be dedicated to Kentucky employees unfunded pension liability fund.

The state also plans to use the 2019 surplus for coal severance tax to coal counties, mineral severance tax to mineral counties and lottery receipts to need-based scholarships.

The state budget office attributed the state's revenue growth in 2019 to statewide economic development efforts and tax reform policies that broadened the tax base and modernized the tax rate structure.

More from Local News


Events

NWS Issues Flood Advisory Until 11 AM

Additional rainfall amounts of 0.5 to 1 inch are possible.

2025 Dearborn County Chamber of Commerce Annual Business Breakfast

The Annual Business Breakfast serves as a yearly kick-off event for the Dearborn County business community.

Roadways in Dearborn County Will Start Closing Soon Due to Flooding

Other roadways may close due to water levels.

Local Sports Report - April 2, 2025

Report missing stats and scores to news@eaglecountryonline.com

South Ripley Varsity Basketball Coach Seve Beach Honored by IBCA

He has a 47-25 record in three seasons with the Raiders.

Switzerland County's Cooper Todd Commits to Anderson University

He will now go on to join the defending HCAC champions.

On Air

Eagle Country 99.3 playing
Carly Pearce - Next Girl

Zac Brown Band Whatever It Is 11:39
Tracy Lawrence How A Cowgirl Says Goodbye 11:35
Brad Paisley No I In Beer 11:32
Shania Twain That Don't Impress Me Much 11:24