Gov. Beshear won’t support ending guaranteed pensions proposed in Senate Bill 2. The governor says in 15-18 years it will fix itself "if we stick with that schedule" of payments agreed upon during a special session in 2008.
IF, IF and IF!
Using his logic, you will have to believe politicians will do what they say they will do. You will have to believe a politician committing to do "efficiency" studies will actually do them. 0 for 2.
Others see it differently. We could all go broke if this issue isn't forced to be seriously dealt with now.
Sen. Damon Thayer, R-Georgetown, says the current programs are not affordable for state or local governments.
Senate President David Williams, R-Burkesville, said last year alone, the state government retirement plans added more than $1 billion in unfunded liability, and the local government plans added $796 million.
Mike Burnside, executive director of the Kentucky Retirement Systems, said the unfunded liabilities of both state and local pension systems are worrisome.
It’s time for Governor Beshear, Senator Williams, Senator Thayer and executive director Burnside to put all the facts on the table at the same time, in the same place. Kentuckians get it: Guaranteed state pensions are unsustainable. This is not too complex or too complicated -- it's politics.
Stop the spin. Other states face bankruptcy because of this issue. This is a high stakes game for Kentucky taxpayers that only politicians get to play.
Politicians win if the state pension programs remain unchanged. Taxpayers lose big time. The pension deck is stacked against the taxpayer and Kentucky.
IF, IF and IF!
Using his logic, you will have to believe politicians will do what they say they will do. You will have to believe a politician committing to do "efficiency" studies will actually do them. 0 for 2.
Others see it differently. We could all go broke if this issue isn't forced to be seriously dealt with now.
Sen. Damon Thayer, R-Georgetown, says the current programs are not affordable for state or local governments.
Senate President David Williams, R-Burkesville, said last year alone, the state government retirement plans added more than $1 billion in unfunded liability, and the local government plans added $796 million.
Mike Burnside, executive director of the Kentucky Retirement Systems, said the unfunded liabilities of both state and local pension systems are worrisome.
It’s time for Governor Beshear, Senator Williams, Senator Thayer and executive director Burnside to put all the facts on the table at the same time, in the same place. Kentuckians get it: Guaranteed state pensions are unsustainable. This is not too complex or too complicated -- it's politics.
Stop the spin. Other states face bankruptcy because of this issue. This is a high stakes game for Kentucky taxpayers that only politicians get to play.
Politicians win if the state pension programs remain unchanged. Taxpayers lose big time. The pension deck is stacked against the taxpayer and Kentucky.
1 comment:
Beshear has re-election coming up...of course everything is fine with pensions...
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