Message to Members

Dear KRTA Members,

By now, you’ve seen that Governor Bevin’s consultant, PFM, has issued a new report
regarding pension reform. If you haven’t done so already, we strongly encourage
you to read the report, which is available here.

You will see the report is very complex, but the bottom line is the recommended
reforms would bring deep financial harm to retired teachers. Teachers are being
asked to bear the cost of bailing out our elected officials’ for their mismanagement
and mistakes.

KRTA issued an initial statement about the recommendations available here. In the
statement, we say that retired teachers will fight tooth and nail any efforts to cut
benefits we have earned, and we will fight any efforts to move teachers from
pensions to 401(k)-type accounts. Instead, the state should stay the course on
catching up on its missed payments to the teacher retirement plan, especially
because teachers never missed a contribution from every single paycheck to their
retirement plan.

We have engaged an expert consultant to develop a full analysis of the complex
PFM report. We will keep you posted on that analysis, and we will provide you with
more specifics on the damage the PFM recommendations would cause.

In the meantime, here are five steps you can take now to help protect your
retirement benefits. We expect Governor Bevin will convene a special session of the
legislature in the coming weeks to address pension reform, so it is vitally important
that all retired teachers are informed and weighing in with elected officials.

1. Read the report here, as well as and credible media coverage so that you are
informed about what Governor Bevin’s consultants are recommending.

2. Contact your legislators (letters, emails, phone calls, and social media) to let
them know you are deeply opposed the PFM report recommendations and you will fight to protect the retirement you earned. Provide them with specifics
on how this will personally harm you and your family. Let them know that you
and your family vote. You can find your legislators here, and the number to call
your legislators is 1-800-372-7181.

3. Tell your family and friends that the PFM report is the wrong solution, and
encourage them to weigh in with their elected officials.

4. Attend any town halls that legislators are holding across the state and voice
your concerns about the PFM report.

5. Be aware that dark money from outsiders is running a well-funded, negative
and inaccurate campaign about our pensions. Visit www.saveourpensions.org
so that you are informed about their anti-pension propaganda. You can
contact this group and demand to know who is funding their work, and you
also can express your concerns about this group to your elected officials.
It will take our collective voices to protect our financial security. In the coming days,
we will push out additional information to help you advocate for your pensions and
to convey our position to policymakers.

Thank you for your support, and please call us if you have questions or comments.

Best regards,
Bob Wagoner, KRTA Executive Director