The issue of public pension reform is not going away.
Despite weak “reform” attempts in the 2013 Kentucky General Assembly, a remarkable unfunded liability remains. cn|2 Pure Politics recently caught with Sen. Chris McDaniel, R-Taylor Mill, who is advocating for further reform:
McDaniel said there will have to be more political will to talk about the issues still facing the retirement system including non-governmental organizations within the retirement system
Yes. More political will is needed if Kentuckians are going to see the changes needed. Moving the entire public pension system to a defined contribution, 401(k) style plan will be unpopular and will require considerable will to move forward BUT this must happen as the standard of living for all Kentuckians hangs in the balance of a $34 billion unfunded public pension liability.