Kentucky Republicans Cave On Pension Reform; Stick It To Taxpayers With “Kick The Can” Approach Instead

Friday, October 20, 2017
By Paul Martin

by Tyler Durden
Oct 19, 2017

After months of planning and cogitating over how to address the failing public pension systems in their state, which are somewhere between $40 and $80 billion under water, Governor Matt Bevin and the leaders of the General Assembly’s Republican majorities released their plan earlier today and it appears to be nothing more than the same old “kick the can down the road” approach to “pension reform” that has perpetuated the pension ponzi in this country for decades while doing absolutely nothing to address the actual crisis.

Here is a summary of the ‘plan’ courtesy of the Courier-Journal…notice that aside from putting new teachers into a “401(k)-style” defined contribution plan, the Republican proposal does pretty much nothing else except demand that more taxpayer dollars be diverted to service failing pension plans.

The Rest…HERE

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