BIPPS’ pension testimony: It’s the benefit structure that’s the problem

The Bluegrass Institute Pension Reform Team offered its presentation “Sound Solutions for Kentucky’s Pension Crisis” at a recent meeting of the state’s Public Pension Oversight Board. Dr.  William Smith told board members that addressing Kentucky’s public-retirement crisis is key to understanding and confronting the structural imbalance of the benefits system.   Bluegrass Institute Board member Aaron…

News Release: Confronting pension crisis calls for reforming benefits structure

For Immediate Release: Monday, March 27, 2017   (FRANKFORT, Ky) – While most of the recent discussion regarding public-pension reform has focused on funding levels and investment returns, Bluegrass Institute Pension Reform Team (BIPRT) member Aaron Ammerman told the state’s Public Pension Oversight Board today that the retirement systems’ benefit structure is “the most significant…

News Release – Pension transparency: Elected officials who kept their word

For Immediate Release: Friday, January 13, 2017 Contact: Jim Waters @ 859.444-5630 (office) 270.320.4376 (cell)  (FRANKFORT, Ky.) — Less than a week into this year’s legislative session, Kentucky’s representatives delivered an enormous win for open and transparent government. Backed by the support of an overwhelming bipartisan coalition, the state House of Representatives voted 95-1 to pass the…

Pension python squeezing Kentucky’s economy

Reporter John Cheves covers the state’s retirement systems’ crisis in Tuesday’s Lexington Herald-Leader, citing inadequate funding, weak investment returns and “unrealistic assumptions” regarding public employees and their benefits as the primary contributing factors to Kentucky’s public pension plight. Two of this stool’s three legs have received a lion’s share of the attention by policymakers. It…

Bluegrass Institute News Release: Transparency a winning issue in Tuesday’s history-making election

For Immediate Release: Wednesday, Nov. 9, 2016 Contact: Jim Waters @ (270) 320-4376 (LEXINGTON, Ky.) — Voters handing Kentucky Republicans an overwhelming — and historic — majority in the state House of Representatives during Tuesday’s presidential election clearly indicated support for a more open, transparent and accountable government. Perhaps nowhere was this clearer than in the 95th…

Bluegrass Beacon — Change the culture of secrecy: Pledge transparency

A recent S&P Global Ratings survey declares that the commonwealth where Lincoln was born now has the nation’s worst pension crisis, a distinction previously held by neighboring Illinois, known as the Land of Lincoln. The only ones who can ultimately apply the prescription needed to fix what S&P describes as a $31.2 billion shortfall will…

Bluegrass Institute urges legislators to support pension transparency

Bluegrass Institute President Jim Waters offered the following prepared testimony supporting making individual public retirees’ benefits transparent at a recent meeting of the Public Pension Oversight Board in the Capitol Annex in Frankfort: I would like to thank the members of the Public Pension Oversight Board for the invitation to participate in this meeting today.…