BRADENTON, Fla. — Moody's Investors Service said Thursday said that the pension reform the Kentucky General Assembly passed on the last day of its 2013 regular session is a credit positive for the Bluegrass State.

Kentucky currently has one of the lowest funded retirement systems in the country, with funded levels of 54.5% for the Kentucky Teachers' Retirement System and 30.2% for the Kentucky Employees Retirement System as of June 30, said Moody's analyst Lisa Heller.

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