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…

Make Kentucky public pensions transparent now

Public pension debt is sinking Kentucky and it is being done behind closed doors.   Demand that legislators make the public pension system transparent! Included in KRS 61.661 is language that ensures public pension disbursements are not subject to open records laws.Kentucky has been broken by a $34 billion unfunded public pension liability and taxpayers…

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…

Ag Commissioner calls for end to legislative pensions

The conversation about legislative pensions hasn’t slowed down. In fact, the extremely lucrative practice of reciprocity and rewarding part-time legislators with gold-plated pensions is becoming a major talking point in elections and political discussions across the state. Most recently, former state legislator and current Kentucky Agriculture Commissioner James Comer stated on cn|2 Pure Politics that he…

Bluegrass Beacon: A federal bailout for state pensions? Say it ain’t so!

By Jim Waters Could it be that one of the reasons Kentucky’s political leaders continue to kick the commonwealth’s can of unfunded pension-liabilities down the road is because they are counting on a bailout from the federal government?  Why not? If private companies like General Motors are too big to fail, then what’s to keep…