Here is the Courier Journal on 7 controversial solutions to solving Kentucky's pension crisis
JCTA and KEA are working with other public employees and supportive partners in the Kentucky Public Pension Coalition (KPPC) to advocate for common sense solutions to fully funding our pensions, but we need YOUR help.
Click here to email your legislators and tell them to COME TO THE TABLE and work with educators and other stakeholders in the Public Pension Coalition to develop a sensible, balanced solution to Kentucky's pension crisis.
TOGETHER WE CAN MAKE A DIFFERENCE!
KEA's President's points
Directly from her email newsletter:
About a year ago, the Commonwealth contracted with PFM Group to study the Commonwealth's public pensions and offer recommendations regarding strategies to address the unfunded liabilities of all the systems. Today, PFM offered its third and final report during a public meeting of the Public Pension Oversight Board (PPOB). You can view a copy of the full report here
PFM's specific recommendations regarding benefit changes begin on page 55.
In our view, many of these recommendations are drastic and are not good for active or retired public school employees or the students they serve. We are dismayed, but not really surprised, at the extreme nature of many of PFM's suggestions. However, keep in mind that this report is just that: a report from an outside consultant. None of this is in a bill.
Tomorrow, the House and Senate will separately hear from PFM. That may be the first time many legislators hear these recommendations. The sessions with PFM will be informational only; since the legislature is not officially in session, no action can be taken.
Making any change to a pension system is complicated, and every decision will have intended and unintended consequences. Ultimately, if any action is taken on pensions, it will require a majority of both chambers to agree. We are a long way away from that point today and encourage legislators to work with all stakeholders to craft a more balanced approach.
So, what action can you take right now? Educate yourself and your colleagues about TRS and CERS. Read the PFM report. Go to www.kea.org and read the pension information we have posted there. Like us on Facebook, follow us on Twitter. Opt in to KEA text alerts by texting "pension" to 67076 (data and messaging rates may apply). Look for the September edition of the KEA News and post the pension information poster (found in the center spread) at your worksite.
During the coming weeks, we plan to work as productively and closely as possible with both chambers of the legislature to help craft a solution to the TRS and CERS funding concerns in a way that protects our members and retirees now and in the future. KEA will keep you updated through future editions of President's Points and other communications. As always, if you have questions, feel free to contact me at KEApresident@kea.org.