The Chatter: Pension rule change means Ky. can't hide; plus lawmakers salaries; and 1st bill of '13
06/25/2012 05:10 PM
New accounting rules could potentially mean more bad news for the Kentucky state employee pension system.
The New York Times reported that the new rules could bring added pressure to rein in future workers’ benefits by highlighting just how depleted some states’ funds really are.
The Governmental Standards Board’s proposed changes to the rules affect the ability for pension systems to easily hide the severity of their financial instability and in some cases that has allowed governments to take undue risks with taxpayer dollars.
The Times asked Robert Attmore, Chairman of the Governmental Standards Board, which states would be most affected by the agency’s changes. While he declined to name any outright, the article suggests that Kentucky, along with other states that have continually failed to pay enough money each year into the pension funds, will be the ones exposed by the new accounting rules.
These changes are set to go into effect by 2015.
Salaries of Kentucky Lawmakers in 2011
The Courier-Journal published on Monday the salaries of all Kentucky legislators from 2011. That includes lawmakers’ salaries and reimbursements for work during the interim session.
Like 2010, House Speaker Greg Stumbo, D-Prestonsburg, was the top money maker in the legislature with a total compensation of more than $94,000. Number 2 on the list was Democratic Rep. Dennis Horlander of Louisville. While Horlander is not one of the most outspoken lawmakers, he consistently ranks high on the compensation list because of his frequent participation in conferences and committee meetings during the interim months between sessions, as Pure Politics reported last fall.
First bill prefiled for the 2013 legislative session.
Republican Representative Mike Harmon of Danville is the first to prefile a bill for 2013.
Harmon’s proposed bill focuses on increasing Driving Under the Influence penalties.
The bill would include counting previous DUI offenses from up to the past 10 years, up from 5 years, as well as calling for the forfieting of a vehicle used in a DUI if the driver’s license had previously been suspended.
Harmon, who profiled the bill on June 8, has proposed similar bills in the past several legislative sessions. But the issue has never been called for a vote in committee.
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