(Zero Hedge) Slowly but surely it is becoming increasingly clear to public workers in states with massively underfunded pensions that they’ve been lied to for the past several decades as their states can’t possibly afford to pay for the retirement they’ve all been promised. As a local radio station in Bowling Green points out today, fears over potential pension changes in Kentucky have resulted in a surge of early retirements as workers move to lock in payouts before any potential cuts go into effect.
More state workers retired last month than the year before amid concerns that the legislature and Gov. Matt Bevin will make changes to state retirement plans.
David Smith, executive director for the Kentucky Association of State Employees, said state workers have been retiring after consultants hired by the state recommended drastic changes to the pension systems.