Bluegrass Beacon: Pension gain, budget pain

Charles Eliot, the longest-serving president in Harvard University’s illustrious history, once said “the capacity to inflict pain” is a university leader’s most important quality. Could it also be a chief executive’s greatest asset – especially if he’s elected to lead a commonwealth that’s “already become essentially insolvent?” That’s how Gov. Matt Bevin described Kentucky’s fiscal…

Kentucky Center for Investigative Reporting: Pension investment expenses sky-high

Well, now here’s a real shocker about Kentucky’s pension-investment expenses: “Kentucky’s pension plan for public employees says that its annual investment expenses are running 75 percent higher than reported in previous years,” reports the Kentucky Center for Investigative Reporting. Included in the report is analysis by former KRS trustee Chris Tobe, who, as reporter James…

Bluegrass Beacon: Politically inconvenient facts about Ky’s economic comeback

Gov. Steve Beshear’s recent victory lap touted an $82.5 million deposit of what he calls “surplus” funds into Kentucky’s “rainy day fund.” Beshear claims it’s a “sign of a healthy economy” and attacks his critics who “keep running their mouths about how bad things are,” reports WHAS-TV’s Joe Arnold. However, I’m concerned that Kentuckians who…

Lt. Gov. hopeful files pension-reform bills

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…

Bluegrass Beacon: Making transparency-tough choices connection key to solving pension crisis

Chris Tobe, a former Kentucky Retirement Systems trustee and author of “Kentucky Fried Pensions: A Culture of Cover-up and Corruption,” describes the commonwealth’s pension crisis as a “cancer eating its way through the whole state.” This cancer has spread – from Louisville, where a judge ruled that Seven Counties Services – a mental health agency…