A nonprofit publication of the Kentucky Center for Public Service Journalism

Pension reform bill coming this week, says House Speaker Pro Tem David Osborne


By Tom Latek
Kentucky Today

A public pension reform bill could be introduced next week, possibly as soon as Monday, according to House Speaker Pro Tem David Osborne, R-Prospect.
 
Osborne said he is awaiting information from the budget staff on the latest information they requested. 


“We got part of it the day before yesterday and I expect it (the rest) any day now,” he told reporters after the House adjourned on Friday.


He said they were to meet with the Senate to discuss the information that they’ve requested, as well as what the House was seeking.  “Unless it creates more questions, which is what has happened the last couple times we’ve gotten information back,” he said. “We’re just trying to clarify things.” 

House Speaker Pro Tem David Osborne, R-Prospect (LRC photo)


Osborne said some of the information they’ve requested has been slow getting back to them, but he doesn’t blame the system. 


“During the session they are obviously having to deal with a lot of actuarial matters, and with every bill there’s fiscal impact statement that has to be done,” he said. “Anything relating with any of the retirement systems has to go through their actuaries.  They do have a limited amount of manpower that’s available to them.”


Osborne remains confident the issue will be addressed during the session, although the process dictates the speed. “We want to do it as quickly as we possibly can, but at the same time, we’re not going to rush it without complete information.”


He says it’s not known yet if it will be a House and Senate bill, nor who will be the sponsor.


Gov. Matt Bevin told reporters on Friday that it’s time for lawmakers to focus on the issue.


“I appreciate that we want to get dogs out of the back seats of cars on hot days, but I think the pension bill is a little more important,” he said.


He was asked about a comment by Senate President Robert Stivers, R-Manchester, that the pension bill was bogged down by the system.


“We’ve had a lot of things bogging the system down,” Bevin said.  “Starting with people’s bad behavior that set a whole lot of people focused on other things.  We now have people being distracted by 800 other things that are, frankly, not nearly as important.  They just aren’t. 

“There’s always the ability to be distracted if we allow ourselves to be.


“I’m confident our legislature is capable of better than that, that they will focus. I think they’re ready for that.”


Bevin also saluted the amount of work that has gone into the effort by everyone involved.


“Thousands of hours of effort have gone into this for a year,” he said.  “More than I would be willing to bet in the lifetime of any of these legislators, perhaps any piece of legislation in the history of Kentucky.  Given that reality, I am very confident that what we get will be a good bill.

“The real purpose of this is to make sure that our retirees actually get the checks that they anticipate in their retirement.  If we don’t fix the system, that will not be the case.  The money will run out and the checks will stop.  That’s not acceptable.”


Kentucky’s public pension plans are among the most underfunded in the nation, to the tune of at least $44 billion.         


Related Posts

Leave a Comment