Courier-Journal features BIPPS’ public pension transparency letter

The following letter to the editor appeared in the Louisville Courier-Journal this morning. Please visit the newspaper’s site and leave your thoughts in the comment section!  Interested in how much a legislator earns for part-time work in Frankfort? No problem! You can find out through the Kentucky Open Records Act. Do you want to know…

Kentuckians aren’t the only ones falling for pension-inflating gimmicks

Kentucky’s pension crisis is among the worst in the nation, but the legislative trickery in Frankfort that racked up our $34 billion unfunded retirement liability is only part of the story. The other chapters were written in neighboring states like Indiana and Tennessee where legislators engaged in similar political maneuvering to increase their paydays in a…

Scholarly Wisdom from the Board of Scholars

“The Other America” Is “Coming Apart”  by Eric Shansberg, Ph.D. Published 50 years ago, Michael Harrington’s The Other America provided a sweeping description of poverty in the United States. His book is given credit for awakening the nation to the plight of the poor and forwarding the idea that the federal government should become heavily…

Bluegrass Beacon: When takers outnumber makers, you’d best take notice

By Jim Waters You’re either a maker or a taker. A free marketplace – which used to operate with much less government interference – allows makers to turn rocks into roads, crops into meals and ideas into patents. Without makers, takers don’t have a paycheck, pension or food stamp. With fewer takers, makers could keep…

Surprise, surprise: KRS does not take costs of new hires into account

If the $34 billion price tag on Kentucky’s public pension crisis weren’t enough for our elected officials to strap on their boots and get to work on some real reform, perhaps the recent news that Kentucky Retirement Sytems’ placement agents pay little to no regard for the price tag on new investment consultants will get…

Actuaries confirm what BIPPS predicted: Pension systems ‘simply unsustainable’

The Courier-Journal reports that most of Kentucky’s public pension funds continue to decline, and are — as the Bluegrass Institute has already reported — simply unsustainable in their current forms. According to actuaries, pension benefits for members of the Kentucky Employees Retirement System’s non-hazardous retirement plan are only 27.3 percent funded this year, compared with…