Thayer believes that pension reform a must early on in session

01/02/2018 06:08 PM

FRANKFORT – Senate Majority Floor Leader Damon Thayer, R-Georgetown, feels that the General Assembly must get a pension reform bill together as soon as possible.

Thayer, who supported Gov. Matt Bevin’s original plan, believes that both the House and Senate will come together and says that a proposed bill is currently being carefully studied.

“We need as strong of a pension bill as possible to take the taxpayers off the hook for the long term risk for new employees and we need to look at making changes outside the inviolable contract that have been noted by folks over at the KTRS and agreed to by the KTRS,” Thayer said. “Those items are on the table for immediate savings that we can use as we craft a budget.”

Thayer acknowledges that there will be a number of tweaks to the original proposal, but says that some things must remain in place for the legislation to be effective in dealing with the crisis.

“We still need to make changes outside the inviolable contract for those who are currently in the system,” Thayer said. “The biggest change is all new employees after July 1, need to go into a 401 (a) style plan.”

Thayer believes that it is imperative for the General Assembly to pass a pension bill before even thinking about addressing the budget, since the budget will be based on what is decided on pensions.

“I hate to be the beater of bad news but it’s going to be an ugly budget if we don’t get this pension bill passed,” Thayer said. “It’s still not going to be pretty, but the cuts will be lessened if we get a pension bill passed with significant savings starting in the next biennium.”

Don Weber

Don Weber is a Video Journalist for Spectrum News and covers politics and education on Pure Politics, Kentucky’s only nightly program dedicated to state politics. Don is a lifelong Kentuckian and a graduate of Northern Kentucky University. He spent many years covering sports in the Northern Kentucky area before shifting primarily to politics. You can watch Don’s work weeknights at 7:00 and 11:30 on Pure Politics, available exclusively on Spectrum News, HD Channels 403 and 715. If you have a story idea you can reach Don at donald.weber@charter.com.

7 Comments

Comments

  • Ricky Lee Williams Jr. wrote on January 02, 2018 08:40 PM :

    I don’t know if it was the cold weather or what, but I kind of felt sorry for our members of the General Assembly, today. The Senate has gotten too comfortable with its super majority. The arrogance and hubris is over flowing, over on that side. From the gavel in, to all the pictures, to the gavel out, was 52 minutes today. Over on the House side, there was a lot of procedural votes and such, but I thought, all in all, David Osborne did a pretty good job. This is a 60 day marathon, but if the start is any indication of how this session is going to go, there are going to be a lot of pictures taken, a lot of BS spoken, and at the end we will be no better off, for it. There is a reason Kentucky is perpetually at the bottom of the nation, in all important categories. I would like to blame the leaders, but it is us, the voters, who voted them into those positions. Happy New Year. RL

  • nutjob wrote on January 03, 2018 07:08 AM :

    if there were ever a case for term limits it would be about 2 years ago. Some of these ladies and gentlemen have been there a long time. Change is never going to happen if we don’t start with the people making the decisions. A significant number of Representatives and Senators have been there since before the turn of the century – they see the seat as belonging to them personally and not the people that they represent.

  • Shirley wrote on January 03, 2018 07:45 AM :

    Those of us that have been around a while should remember that Senator Thayer was very instrumental in passing bills in 2008 and 2014 that was “according to him” going to save our pension system! Look at us now, worse shape we have ever been in. Revenue needs to be passed that will fund the system, and nothing they do, like before, in changing new employees, and some of the other things mentioned is going to help! Now he along with others want to do the same things they tried before!!!
    Me thinks Scott County needs to consider changing courses in their next election.

  • Shirley wrote on January 03, 2018 07:45 AM :

    Those of us that have been around a while should remember that Senator Thayer was very instrumental in passing bills in 2008 and 2014 that was “according to him” going to save our pension system! Look at us now, worse shape we have ever been in. Revenue needs to be passed that will fund the system, and nothing they do, like before, in changing new employees, and some of the other things mentioned is going to help! Now he along with others want to do the same things they tried before!!!
    Me thinks Scott County needs to consider changing courses in their next election.

  • Chris Tobe wrote on January 03, 2018 09:02 AM :

    I list the Top 10 Kentucky Pension Lies in my new book #KentuckyFriedPensions – #1 lie is that Pensions need to be dealt with before budget in regular session. Pensions are 99% about the Budget, the Budget is about Pensions Budget=Pensions they are not separate

  • Raymond Hurst wrote on January 04, 2018 10:28 PM :

    Damon Thayer says he doesn’t want the taxpayers to have to pay for the pension problem. Translation: We elected officials don’t want to offend such a big block of voters as everyone in the state so we will cut out the pension system as it exists and offend a much smaller block; the retirees.

  • Raymond Hurst wrote on January 04, 2018 10:29 PM :

    Damon Thayer says he doesn’t want the taxpayers to have to pay for the pension problem. Translation: We elected officials don’t want to offend such a big block of voters as everyone in the state so we will cut out the pension system as it exists and offend a much smaller block; the retirees.

What do you have to say?





SUBSCRIBE NOW

Subscribe to email updates.

Subscribe and get the latest political intelligence delivered to your inbox.

TWEETS ABOUT KY POLITICS