A nonprofit publication of the Kentucky Center for Public Service Journalism

Sen. Thayer appointed to Public Pension Oversight Board, responsible for eight retirement systems

Senate Majority Floor Leader Damon Thayer, R-Georgetown, has been appointed by Senate President Robert Stivers to the Public Pension Oversight Board.

“I’ve long advocated for policies and funding to make our public employee pension systems more solvent and sustainable,” Thayer said.

Damo Thayer

“I’ve led on legislation and have been willing to take the heat that comes with that because the issue is too important to ignore. I’m proud of our progress in securing these systems, notably providing record funding each session since 2016 and increasing scrutiny of those responsible for the systems. I look forward to continuing that work as a member of this board.”

Thayer sponsored 2013’s landmark Senate Bill 2, which implemented critical provisions improving the long-term sustainability of Kentucky’s public pension systems for state and county employees. For his sponsorship of the bill, Thayer was selected 23rd on a list of the 40 most influential people in the debate to decide the future of U.S. Pensions by Institutional Investor Magazine.

Since that time, Thayer has been a vocal and active proponent of fully funding state pensions well above the statutory requirement. Since Republicans gained full control of the General Assembly in 2016, each budget has included record funding to stabilize and sustain the Kentucky Public Pension Authority and the Kentucky Teachers Retirement System.

The Public Pension Oversight Board is a statutory committee that meets throughout the year. This board is responsible for assisting the General Assembly with its review and oversight of Kentucky’s eight retirement systems. Many policy reforms result from the work of the board.

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