Governor leaving Kentucky in the lurch on pension reform
Published 8:55 am Monday, October 16, 2017
I just want to ask, “Where’s the plan, Governor Bevin?”
As we rapidly approach the end of the second year of the Bevin administration, once again citizens are kept in the lurch awaiting announcement of the administration’s plan for our pension crisis.
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After backing out of a tax reform special session, we now face the prospect of paying for a pension special session. And still no plan for either tax reform or pension has been presented.
The piecemeal, behind-closed-doors approach is failing Kentucky. Our part-time legislators have demonstrated a decided lack of understanding of their fiduciary responsibilities and need all the time and help they can get to tackle complex life-altering events. As Einstein related “No problem can be solved from the same level of consciousness that created it.” And our legislature has kicked this can down the road for decades.
Closing the KRS defined benefits plan to future employees guarantees the taxpayers will now be responsible for every cent in arrears. What is the plan to pay this back? How can this be decided without concurrent tax reform? Recommendations from the high-priced, out-of-state consultants have done nothing to help identify revenue streams.
Promises were made and the inviolable contract needs the immediate attention of every citizen. So, governor, what’s the plan of attack? I await your word.