House Bill 525 bad for teachers’ pensions

Published 7:48 pm Friday, March 1, 2019

House Bill 525 is Gov. Bevin’s latest bid to “break the back” of KEA. It is a political get back and a reckless bid for power. For the general public, this bill would allow the governor to appoint two people to the board of trustees, which decide where teachers’ pensions are invested. The state-appointed trustees who have managed the public employees have thus far done a lackluster job with their money, with a lower rate of return than the excellent record of KTRS. In fact, our pensions would be in great shape if the state had just put in their required funds.

Which would you want investing your retirement: people you vote on whose own retirement would be affected by the decisions they make on your behalf, or political cronies not affected by the outcome of their decisions?

This is litmus test for Daniel Elliot and maybe Rick Girdler. Are they going to support the desires of their party boss and mess with a system that is already (statistically) working well for their people? Or are they going to respond to the needs of their constituents? Also, for those who failed to vote for Lydia Coffey for our state representative, this bill and its outcome is why it matters to vote responsibly.

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Jane Preston