What? You really thought Damon Thayer was serious when it came to the pension “task force”?
You must have been drunk because of the holidays and such.
From John Cheves’ latest:
“The General Assembly created the current crisis by consistently failing to provide the annual required contribution,” said Jim Carroll, spokesman for a watchdog group called Kentucky Government Retirees. “This legislative neglect should not be a basis for creating two classes of employees — those whose retirement benefits are guaranteed and those whose benefits can be changed at the whim of the legislature.”
The “task force” decided state government should pay the full ARC in 2014. Please, hold your laughter. Because we all know that’s like… well… let’s put this into terms most Kentuckians can relate to. It’s like only paying half your child support for a decade and telling the judge you promise to make full payments after getting caught. Despite budgeting 110% of your income on hookers, beer and satellite teevee. No wiggle room for a pesky little thing like child support.
Looks to us and those on the inside like a deal was cut with the Kentucky League of Cities and Kentucky Association of Counties to prevent them from pulling out of CERS/KRS. Each agency was given a board seat and likely promised there would be no legislation on benefit transparency. This means big dogs at KLC and KACo can keep their six-figure pensions out of the public eye and away from scrutiny.
Mayors like Greg Fischer were promised that local option sales taxes would be on the table in exchange for not pulling out of CERS.
Yet another case of wasted time. Epic proportions of wasted time.
This is why Kentucky can’t have nice things.