Beshear Outlines State Pension Proposal

FRANKFORT, Ky. (AP) - Gov. Steve Beshear has outlined a plan to
overhaul the state pension system to prevent it from going bust.

Beshear said Thursday he wants to take actions now that would
shore up retirement benefits for future public school teachers and
state and county government employees. Kentucky's retirement
systems cover more than 445,000 people.

Beshear's plan calls for making employees work longer before
retirement. It also would reduce annual cost of living increases
for retirees.

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  • by lynn Location: london on Feb 22, 2008 at 08:30 AM
    Concerning Gov. Beshear's proposal to overhaul the state pension system, does he not realize if he messes up our retirement that we have worked so long to get, he just might not be in office but four years. He should try to live on 1.5 percent COLA raise. Also, with 445,000 and their families and friends does he really thing he would win another election!!!As the saying goes the rich get richer and the poor get poorer. And yes, I am a republican that voted for him, but never again!!!!!!!!!!!!!!!!!!!
  • by Ann on Feb 22, 2008 at 08:03 AM
    I am ashamed that I voted for this man!
  • by harold Location: west. ky on Feb 22, 2008 at 06:36 AM
    Do Legislators and Cabinet Secretaries and the Governor get cost of living decreases, too?
  • by Anonymous Location: E. KY on Feb 21, 2008 at 05:40 PM
    I'm glad he's going to be so much better that our past governor.. LOL
  • by Gordon Location: Home on Feb 21, 2008 at 04:02 PM
    Beshear is commencing to look and act a lot like a republican whack man. Cut everything that benefits all those who have contributed to it all of their lives.
  • by Scott Location: Lexington on Feb 21, 2008 at 03:20 PM
    The most widely used measure of inflation is the "Consumer Price Index" or CPI. In the USA most everyone receiving a check from the government (Social Security, Federal retirees, military, etc) have their annual increase adjusted using this method. State Government retirees should demand no less of a FAIR standard. It isn't about getting ahead, but watching the pension you have worked your entire life for slowly erode over perhaps just a few years. The CPI has been BELOW 1.5% only one year since 1978. In all the other years, the annual cost-of-living has increased from 2.1 to 8.9 percent. Capping cost-of-living increases at 1.5% for Kentucky schoolteachers and other state retirees is an outrage!
  • by ghettochip Location: richmond on Feb 21, 2008 at 02:07 PM
    'Tis a pity to run a campaign with education as a priority, then move it to the back burner once in office. Beshear actually stated that higher education will become a priority "if the casinos pass." State employees' cost of living increases have gone from 5% to 1.5% in 5 years. That is a cost of living decrease. Ouch! Education doesn't mean much in KY and the state benefits are dwindling to nothing and soon enough there will be no state employees to serve the citizens of KY. State employees, like teachers, work many hours with very little pay. If it gets any worse, this state employee will need to go to work for the private sector. I could make $2000 for each presentation, which is currently delivered with only my salary as pay. Woe to the future of KY. Without education we go nowhere. Taking from education to increase jail cells demonstrates the expectations that this administration has for the future. I am ashamed that I voted for this man.
  • by Anonymous Location: Pu;aski on Feb 21, 2008 at 12:51 PM
    Is it possible to reduce cost of living increases if the cost of living continues to rise?
  • by Retired Educator Location: E. KY on Feb 21, 2008 at 12:12 PM
    Just another "hit" to our benefits, to try to keep retired teachers in poverty. Our benefits "stink" as it is!! We give the best years of our lives to our community and spend our hard earned money to buy supplies and things needed in the classroom and work after hours, weekends and summers for no pay at all. Then, when we retire, we are given a "pittance" and expected to go away and not complain. Just keep it up, Mr. Brashear, soon the retired teachers will all starve to death and you won't have to pay their benefits at all. This would solve the problem...right?
  • by Wayne Location: not disclosed on Feb 21, 2008 at 10:15 AM
    I can't relate how the plan would "reduce annual cost of living increases for retirees" and at the same time "shore up retirement benefits". This sounds like political double talk to me.


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