McDaniel pre-files transparency bill that shines the light on legislators’ Cadillac pension benefits
Sen. Chris McDaniel, R-Taylor Mill, has pre-filed three pension-reform bills for consideration during the 2015 session of the Kentucky General Assembly, including BR85, which would shine the light of transparency on state politicians’ Cadillac taxpayer-funded benefits.
BR85 makes all current or former legislators’ benefits in the Legislative Retirement Plan and benefits from other states plans in which a legislator is participating subject to Kentucky’s open-records requests statutes.
“For too long, those who are making decisions about the pension system have had their financial motivations hidden from the public,” McDaniel, who is Agriculture Commissioner James Comer’s running mate in next year’s Kentucky Republican gubernatorial primary, said. “This will bring transparency and accountability to the process, and is a change that is long overdue.”
Read the Bluegrass Institute’s reports by Lowell Reese on Kentucky’s public pension crisis, including estimates on how several current and former double-dipping legislators game the system.
McDaniel also pre-filed BR102, which would also shine the light of transparency on the activities of placement agents working within Kentucky’s public pension system, and BR 198, which would end the practice of legislative “spiking” of pensions.