September 16, 2016
Blames stalemate on pension on Greg Stumbo and Rocky Adkins
FRANKFORT, Ky. (September 16, 2016) – “Despite Kentucky Republicans repeatedly sounding the alarm, the Kentucky Retirement Systems (KRS) has plunged to the worst funded system in the entire nation, according to a recent report (http://wfpl.org/studies-show-kentuckys-state-pensions-worst-in-nation/).
While Greg Stumbo has been Speaker, teachers and state employees have seen alarming losses in their retirement portfolios. Meanwhile, the Democrat-controlled House has continued to refuse to consider legislation requiring transparency and accountability as both Stumbo and Rocky Adkins have killed every attempt to allow a vote that would make legislator pensions open to the public. Aren’t all taxpayers, especially teachers and state employees, owed an explanation over House Democrat Leadership’s unwillingness to fix the pension crisis?
Now, as an election is upon us, Stumbo and James Kay pretend to be interested in solving the pension crisis and providing transparency when they see power slipping from Democrats’ grasp. An email released last month between William Thielen, former Executive Director of KRS, and House Democrat Leadership revealed that House leaders organized to kill a bill requiring increased transparency, and measures to stabilize the pension systems. (See: https://twitter.com/KYHouseGOP). Greg Stumbo, James Kay, Rocky Adkins, and others are engaging in their usual brand of self-dealing, backroom, good ol’ boy politics, which continues to put Kentuckians at risk of losing their hard-earned retirement dollars. Shame on them – Kentucky deserves much better.”
