Stumbo says he's disappointed with pension suggestions, praises Stivers and jokes about UK's stadium
11/30/2012 11:09 AM
House Speaker Greg Stumbo, D-Prestonsburg, is not impressed with the initial recommendations that came out of the legislative task force on pensions — just like he’s not wild about the initial signals coming out of the governor’s commission on tax reform.
Stumbo said in a press availability this week that he wished both group would have gone “bold.”
The pension task force recommended finding more than $300 million more to make the state’s full payment into the Kentucky Employee Retirement System fund, which has been chronically under-funded for the last decade. Combined, the systems have a combined $33 billion unfunded liability.
Stumbo also weighed in on his likely new counterpart across the Capitol — Sen. Robert Stivers, R-Manchester.
Senate Republicans elected Stivers as their pick for the Senate presidency to replace Sen. David Williams, who resigned to take a judgeship this fall. The full Senate must officially vote on the presidency when the session begins Jan. 8.
Stumbo praised Stivers and said a change in leadership could reduce the “tension” that had been building in Frankfort.
And Stumbo also joked about the future of Commonwealth Stadium. Many University of Kentucky boosters want upgrades to the stadium, including luxury boxes and a new area for recruits.
When asked whether the legislature would sign off on UK paying for such upgrades, Stumbo joked that the newly-named coach, Mark Stoops, might want to win a few games first:
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State Rep. Brad Montell pre-files bill to direct excess public employee insurance funds to retirement systems
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