Mayors to speak about crippling pension costs

FRANKFORT, Ky. (WKYT) - The mayors of Kentucky's two largest cities and other community leaders called on lawmakers for action to address rising pension costs.

Louisville Mayor Greg Fischer and Lexington Mayor Jim Gray spoke about the pension problems Monday morning at the Thomas D. Clark Center for Kentucky History in Frankfort.

Leaders pointed out the drastic increase of the portion of their local governments budget dedicated to pensions for city employees, adding something needs to be done by the general assembly soon.

When asked how soon they anticipate the issue being addressed by legislators, mayor Jim gray gave this response;

"Look, hope is eternal. This is and urgent, urgent, urgent problem. Every year it gets more serious. These are real numbers, these are not abstractions. They're very real numbers. And If you're in a business and looking at your balance sheet or your income and expense statement, you would say this is insane."

The morning news conference previewed a national report from the Pew Center on the States that addresses the impact of pension costs on cities.

Other officials in attendance included Kentucky League of Cities director Jonathan Steiner and Kentucky Association of Counties president Tommy Turner.

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