Hal Rogers helps himself

Since 2002, U.S. Rep. Hal Rogers – Kentucky’s own “prince of pork” – has secured $7.1 million for improvements to College Street and other portions of Somerset, Ky. The main reason this is news is that Hal Rogers’ home is on College Street. The Washington Post today discusses the appearance of personal enrichment by many…

Pension reform in other states, so why not Kentucky?

Economist Brian Strow stresses the need for state pension reform in the Bowling Green Daily News: A growing number of states have recently engaged in public pension reform, and rightfully so. Unfunded state pension liabilities have been an albatross around the necks of more than one state balance sheet. Illinois, New Jersey, Wisconsin, Ohio, Michigan,…

What’s holding back Kentucky’s economic recovery?

According to economists, one big factor is ObamaCare: Aaron Yelowitz, an economics professor in the business college, told attendees that another concern for Kentucky is the effect of the Affordable Care Act in 2014. The federal law will require businesses with 50 or more employees to provide “affordable” insurance to full-time workers or pay a…

Still Another Jefferson County Public Schools ‘follow the money’ adventure!

A new audit on operations in the Jefferson County School District’s central office, “Final Report of a Study of the ORGANIZATIONAL STRUCTURE AND CENTRAL OFFICE STAFFING, FUNCTIONS, AND OPERATIONS,” says on page 28 that “Transportation services were found to be very expensive, amounting to $54,648,585 in 2008-09, $57,085,703 in 2009-10, and $62,544,974 in 2010-11.” That’s…

Taking liberty to the airwaves: BIPPS pension report gets statewide attention

Join Jim Waters, vice president for communications, as he discusses the Bluegrass Institute’s latest report on Kentucky’s public pension crisis today (Tuesday, Jan. 10) on radio shows across the commonwealth. Read the report here. Waters will be on the Sue Wylie Show on News Talk 590 WVLK-AM in Lexington at 10 a.m. eastern (listen live here), followed by…

Future Shock: Legislators stoking the coals on Kentucky’s runaway pension train

For Immediate Release: Contact: Jim Waters Thur., Jan. 5, 2012 270-782-2140 Future Shock: Legislators stoking the coals on Kentucky’s runaway pension train (right-click & save target as…) A failure to meet pension-payment requirements 11 of the last 15 years leads to a 3,000 percent increase in the Bluegrass State’s unfunded liability since 2000 (FRANKFORT, Ky.) –…

‘Air time’ and public pension funding

USA Today has a package of stories on public pensions. Specifically, the stories explain how the purchase of “air time,” a method of pension spiking, contributes to pension funding problems. In short, “air time” is credit for work not performed. Workers can pay for this extra service credit as a share of their current salary.…