pension

Groups Review State Pension Reform Proposals

Sep 18, 2017
kentucky.com

As they draft pension reforms, Kentucky legislative leaders are seeking feedback from various interest groups. 

Indications are the state’s 138 lawmakers will go to Frankfort sometime in October to vote on changes to state public retirement programs.


Lexington Leader Eyes Public Pension Reform

Sep 5, 2017
wkyt.com

Work at the state level to address public pension problems is also being watched closed at the local government level.  

Council Member Susan Lamb broached the topic last week during the weekly work session. 


Kentucky.com/Lexington Herald-Leader

Kentucky House lawmakers have held a private meeting Tuesday to discuss the state's troubled pension system.

Republican and Democratic legislators met at the State Capitol for about two hours.   

 


Ky Universities Proposing Separate Pension System

Aug 16, 2017
Stu Johnson

Eastern Kentucky University President Michael Benson says a proposal for state schools to move out of the state retirement system is under discussion.  

The university president spoke during the annual convocation before faculty and staff Tuesday in Richmond. 


A bill that would separate the relatively healthy retirement fund for local governments from one of the state’s ailing pension systems is dead — despite a push from local officials.

Gov. Matt Bevin announced on Thursday that he has asked bill sponsor Sen. Joe Bowen to pause the legislation.

“The most critical thing is to make sure we get this right,” Bevin said.

Bowen said he still supports the bill and argued that tabling it now would help its chances in the future.

Kentucky’s public pension system, which officially faces an $18.1 billion unfunded liability, might be in worse shape than previously thought.

The bigger potential problem for Kentucky Retirement Systems means taxpayers could be on the hook for much more money to honor pension commitments to about 365,000 public employees, the Lexington Herald-Leader reported.

governor.ky.gov

Gov. Matt Bevin is calling upon the Kentucky General Assembly to make “bold, hard, decisions” when it comes to tax reform. 

During Wednesday State of the Commonwealth speech, Bevin said tax reform and further steps to reduce the state’s $82 million pension deficit need to be done together in a special session this year.  Bevin said some 300 tax loopholes deserve attention.

 “We exempt more income in Kentucky than we take in.  That’s going to have to change, ” Bevin said.


Kentuckians for the Commonwealth

Some 10,000 signatures were delivered to Sen. Mitch McConnell’s London office Monday asking the majority leader to support the Miner’s Protection and Reclaim acts.

On this week's edition of Kentucky Tonight, host Bill Goodman and guests will discuss public employee pensions.  The program that aired "live" on KET Monday night will be re-broadcast Tuesday morning at 11:00 on the WEKU Stations.

Lexington Fire Chief Bob Hendricks says he has a total and permanent occupational disability. His request for a disability retirement came before the Police and Fire Pension Board Wednesday morning, while the embattled chief remains on paid leave. Hendricks was asked resign from his post two months ago amid overtime and budget problems within the Division of Fire. He refused to step down.