A large contingency from the NKy Chapter of Kentucky Public Retirees attended this year’s annual meeting held in Lexington recently. Many of the Commonwealth’s political leaders spoke at the meeting and presented their ideas on how to best resolve the Commonwealth’s financial crisis.
Among the presenters were Senate Majority Floor Leader Damon Thayer, Sen. Chris McDaniel of Taylor Mill, Speaker of the House Greg Stumbo, House Committee Member James Kay, Republican candidate for Governor Matt Bevin, and candidate for Lt. Gov. Sannie Overly. Excerpts from these presentations can be found on the Kentucky Public Retirees Facebook page and website.
The presenters said that the financial health of the Pension Plan was their first priority as it is uniquely tied to the Commonwealth’s overall financial health and credit worthiness. The elected officials present said they had learned from their past mistakes and are committed, in the future, to fully fund The Actuarially Required Contribution.
The suggestions on how to solve the crisis were divided among party lines. Stumbo wants to legalizes casinos, creating a dedicated income stream for the KPR’s priorities including the Pension Fund and taking on more debt by issuing bonds. Bevin has ideas of tax reform generating an increased income stream created by a business-friendly environment thus increasing employment and broadening the tax base leading to more citizens each playing less into government coffer.
From the NKy Chapter of Kentucky Public Retirees