Kentucky retirees can benefit from budget surplus in 2024 legislation

I retired from the State of Kentucky after serving Kentuckians for over 20 years in the field of rehabilitation services for people who are blind or visually impaired. When I retired, my very modest pension was enough to cover basic needs, but like many people, I used savings to make up the difference. For the past 12 years, my pension has been the same as 12 years ago. But all expenses continue to increase. Basically, my pension income has decreased by about one-third compared to when I retired. My savings have taken a much bigger hit these days than when I first retired. Given the fact that legalized gambling profits have exceeded expectations and there is a record rainy day fund, we expect the Kentucky Legislature to seriously consider one-time gambling in 2024. Additional checks for Kentucky retirees. This is a one-time expense for Kentucky. It would be much cheaper than raising the cost of living across the board. But retirees will receive some relief from the inflation-induced decline in income over the past 12 years.