Really, the only positive pension legislation proposed this session has nothing to do with reform.
It’s Senate Bill 57:
AN ACT relating to the disclosure of public retirement information.
Amend KRS 61.661, 161.585, and 21.540 to require the Kentucky Retirement Systems, Kentucky Teachers’ Retirement System, and the Judicial Form Retirement System, to disclose upon request the names, status, projected or actual benefit payments, and other retirement information of each member or recipient of a retirement allowance of the systems; require the systems to also make the information available on a searchable database on the systems’ Web site or on a Web site established by the executive or judicial branch to provide government expenditure and salary data to the public.
The actual bill is twelve pages of junk that mostly relates to subpoenas.
While this does next to nothing to clean out the corruption at Kentucky Retirement Systems and has nothing to do with funding, a little transparency would be nice.
We’re sure the legislature will find a way to kill the bill or amend it to death.
3 responses so far ↓
1 Cavemouse // Feb 6, 2013 at 2:18 pm
Me thinks the Legislatators have exempted themselves from disclosure. Buried in page 10 :
“(4) The Judicial Form Retirement System shall make available on a public Web site, a listing of all system expenditures and a listing of each individual employed by the systems along with the employee’s salary or wages. The system may provide the information through a Web site established by the executive or judicial branch to inform the public about executive or judicial branch agency expenditures and public employee salaries and wages. Nothing in this subsection shall require or compel the Judicial Form Retirement System to disclose information specific to the account of an individual member of the Legislators’ Retirement Plan or the Judicial Retirement Plan.”
So much for transparency!!!!
2 Cavemouse // Feb 6, 2013 at 2:26 pm
Section 7 seems to contradict Section 4 – wonder which one will survive?
“(7) (a) Upon request by any person, the Judicial Form Retirement System shall be required to release the following information from the accounts of each member and recipient of a retirement allowance of the Legislators’ Retirement Plan or the Judicial Retirement Plan:
1. The first and last name of the member or recipient;
2. The plan or plans in which the member has an account or from which the recipient is receiving a monthly retirement allowance;
3. The status of the member or recipient, including but not limited to whether he or she is a contributing member; a member who is not currently contributing to the plans but has not retired; a retiree drawing a monthly retirement allowance; or a beneficiary drawing a monthly retirement allowance;
4. If the individual is a recipient, the monthly retirement allowance that he or she was receiving at the end of the most recently completed fiscal year; and
5. If the individual is a member who has not yet retired, the estimated monthly retirement allowance that he or she is eligible to receive on the first date he or she would be eligible for an unreduced retirement allowance, using his or her service credit and final compensation at the end of the most recently completed fiscal year.
(b) The release of information under paragraph (a) of this subsection shall not constitute a violation of the Open Records Act, KRS 61.870 to 61.884.
(c) The system shall also make the information required to be released under paragraph (a) of this subsection available on their Web site through a searchable database. In lieu of posting the information required by this paragraph to the system’s Web site, the system may provide the information through a Web site established by the executive or judicial branch to inform the public about executive or judicial branch agency expenditures and public employee salaries and wages.”
3 whereistheleadership // Feb 6, 2013 at 4:00 pm
It will quickly get squashed, ignored and tossed aside just like voters
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