In fiscal year 2018, KRS paid more than 100,000 recipients in Kentucky nearly $2 billion. Beneficiaries in every county in the state receive at least $1 million annually from KRS.
Jefferson County had the largest number of beneficiaries in 2018 (15,580), and money flowing into the county from KRS totaled $338.4 million. Franklin County had the second largest number of beneficiaries (6,297), and benefits paid out ($194.1 million), followed by Fayette County (5,293 beneficiaries receiving $113.6 million).
Outside of the top three counties, Daviess, Kenton and Warren counties round out the top six, each with more than $40 million paid from KRS to beneficiaries in their area.
Robertson County had the fewest beneficiaries (67) and payments ($1.1 million) followed by Hickman County (94 beneficiaries with $1.7 million in payments) and Gallatin County (108 beneficiaries with $1.9 million in payments).
KRS beneficiaries make up more than three percent of the population in 23 counties with Franklin County (12.5 percent), Anderson County (5.9 percent) and Henry County (5.6 percent) at the top of the list.
On a per capita basis, Franklin County sees the biggest impact of retirement benefits: benefits translate into almost $3,900 per capita. Anderson County, Henry County and Owen County are next in line, each with more than $1,000 per capita in benefits flowing in the county each year.
Source: Author’s analysis of data from the 2018 Kentucky Retirement System CAFR (Comprehensive Annual Financial Report)