NEWS ALERT: Institute’s exposé: Legislators’ pensions a modern day ‘gold rush’

(FRANKFORT, Ky.) – A new report by the Bluegrass Institute, Kentucky’s free-market think tank, holds legislators primarily responsible for the commonwealth’s public-pension crisis, noting that politicians of both parties have demonstrated “flat-out greed and disrespect for the public treasury” by adding benefits for political gain and enriching themselves at taxpayers’ expense. “Defenders of the status quo…

Taking liberty to the airwaves: New BIPPS pension report author Lowell Reese joins Joe Elliott this afternoon

Lowell Reese, author of “Future Shock: Kentucky Politiicans’ Opulent Pensions Have Become a Modern-Day Gold Rush,” a new report by the Bluegrass Institute, will join award winning talk-show host on “The Joe Elliott Show” on 970 WGTK-AM today at 1 p.m. (EDT). “The Joe Elliott Show” is broadcast weekdays from Noon to 3 p.m. EDT.…

Coming Monday! The next installment of ‘Future Shock’

 On Monday morning we will be releasing the next installment in our public pension exposé, Future Shock: Kentucky Politician’s Opulent Pensions Have Become A Modern Day Gold Rush. The report will outline how Kentucky’s legislators have voted to increase their own wealth by sweetening their pensions on the backs of Kentucky’s taxpayers. You don’t want…

Care to guess what the retirement system’s debt is?

Below is a frightening quote from the upcoming release Future Shock: Kentucky’s Politicians’ Opulent Pensions Have Become A Modern-Day Gold Rush. According to the Legislative Research Commission, the state’s current debt from borrowing is $9.6 billion – an impressive amount, but no so much compared to the retirement systems’ debt, which is 34.5 billion. As…

Kentuckians’ standard of living in jeopardy

This is a quote from the upcoming report Future Shock: Kentucky Politicians’ Opulent Pensions Have Become a Modern-Day Gold Rush.  …the main message of this story resides in the subsurface — the attitude of the General Assembly…demonstrated by flat-out greed and disrespect for the public treasury, which now has put the standard of living of…

Budget battles, COLA, and ‘Future Shock’

The Lexington Herald-Leader is reporting that in the current proposed budget before the Kentucky General Assembly, cost-of-living adjustments (COLA’s) will be suspended for state retirees. This is significant because the state and local retirement plans are bound by what is called an “inviolable contract” (read more on page 8 of “Future Shock”) meaning that the retirement…