Courier-Journal takes a look at HB 299

The severity of Kentucky’s pending pension disaster is finally getting attention in Kentucky’s largest newspaper. This week, Courier-Journal columnist John David Dyche delved into the effects of The Kentucky General Assembly’s 2005 House Bill 299. From Dyche’s article: HB 299 reduced the number of years legislators had to serve before drawing a penalty-free pension prior…

What is the ‘full price’ for Lexington taxpayers?

With pension systems at all levels of government across the nation experiencing difficult times, I believe we can expect to see more conversations like the one in a recent Lexington Herald-Leader editorial: …it’s so hard to find a solution for Lexington’s underfunded police and fire pension system. Through multiple mayors and council members, two task…

Kentucky pension system unfortunately makes another top-10 list

TheStreet.com recently published its list of the ten states whose pension systems are the worst-off. No surprise, Kentucky is identified as one of those states. The article even sites the Bluegrass Institute as one of the organizations calling for reform: According to the Pew Center on the States, a nonprofit division of The Pew Charitable Trusts,…

Jefferson County Schools central office cleanup saves millions

The Courier-Journal reports an extensive clean-up of the bloated central office at the Jefferson County Public School District is likely to save $4 million, apparently each year. That, according to district superintendent Danna Hargens, is money she can now plow back into education in the schools. It’s about time. Things are so bad even the…

Lexington mayor talks “unsustainable” pensions

“Thorny” and “out of control” are the words that Lexington Mayor Jim Gray used to describe the city’s pension situation. Uh oh. In a recent interview with WUKY, Gray explains how the city’s annual required contribution to the pension system has increased by 400% over the past decade and describes this is as “unsustainable”. He…