Updated pension reform bill in the works, new pension oversight co-chair says

11/16/2017 10:50 AM

As the House of Representatives finds it’s footing amid an alleged sexual harassment settlement which that caused Rep. Jeff Hoover’s resignation as speaker and sparked an investigation, the new co-chair of the Public Pension Oversight Board says work is underway to re-craft the proposal.

Rep. Jerry T. Miller, R-Eastwood, told Pure Politics this week that “changes need to be made” to the legislation for it to pass the House of Representatives.

“We’ve gone back and continuing to meet with groups and tumble ideas, and hopefully we’ll be able to get a bill, and certainly we’ll have to have the actuarial evaluation of it when it’s all said and done,” he said.

Miller said it was “difficult” to predict exactly how the legislation would change; currently House and Senate leaders are meeting to find consensus, he added.

Gov. Matt Bevin, R-Kentucky, has yet to call a special session to deal with pension reform, but Miller hopes that agreement can be found this month and lawmakers can convene in December, before the regular legislative session begins in January of 2018.

When it comes to the Kentucky Teachers’ Retirement System, Miller says that state educators and administrators are going to have to bear part of the burden in solving the pension crisis, as will all state retirees.

Watch the full interview with Miller including ways for the state to develop new revenue in an effort to pay down pension obligations in the clip below.

Nick Storm

Nick Storm is the Anchor and Managing Editor of Pure Politics available exclusively on Spectrum News. Pure Politics is the only nightly program dedicated to Kentucky politics. Nick covers all of the political heavyweights and his investigative work brings to light issues that might otherwise go unnoticed, like his coverage of the backlog of DNA rape kits waiting to be tested in Kentucky. Nick is also working on a feature length bio documentary Outlaw Poet: A documentary on Ron Whitehead. Pure Politics airs weeknight at 7 and 11:30 on Spectrum News. Follow Nick on Twitter @NStorm_Politics. Nick can be reached at 502-792-1107 or nicholas.storm@charter.com.

2 Comments

Comments

  • nutjob wrote on November 17, 2017 07:00 AM :

    why should the state retirees have to pay AGAIN? the basic deal was/is that the workers put in a part of their paycheck and the employer (the Commonwealth of Kentucky) put in their part. The workers held up their end of the agreement but Gov Patton, Speaker Richards, President Williams,Gov Fletcher, Speaker Stumbo, Gov. Beshear and President Stivers failed on their end to hold up the agreement. The workers paid their part and should not be required to pay more. Take the money from the leaders retirement checks not the workers

  • JoeB wrote on November 22, 2017 10:46 AM :

    Any bill proposed that does not include raising revenue needs to go directly in the trash can sir! Nothing was wrong with the structure of the states various retirement systems other than the legislators have the most well funded system.If all the sytems had received the money they should have over the past 20 or so years we would not be having these conversations on pension reform.Why do legislators even receive a pension to begin with? KRS has been reformed to death. “Greedy b*stards” like Thayer pass legislation, prance around in front of a microphone blabbering about what a great day it has been for Ky, and then come back the next legislative session seeking to do more damage.This is the 3rd or 4th time this has happened. The arrogant acting Thayer needs to be defeated and sent home from the legislature.I am sure he brags about all he has done when he travels around the country to these out of state conferences talking about how he has helped “bust” Ky pension systems.

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