Louisville Metro Council President Jim King woke up and finally decided to call for a divorce of CERS from Kentucky Retirement Systems:
As president of the Metro Council, I have watched our city budget suffer due to exponentially increasing local pension costs that are dictated to us by our state legislators. But, unlike the state, our city annually budgets and pays every dollar billed to us by the Frankfort-based County Employee Retirement System (CERS). This has resulted in a city/county plan that is on a much stronger fiscal footing than the state’s plan and has led the CERS to become a source of strength for the KERS. I believe this unfairly shifts administrative and other costs to our cities and counties from the state plan and puts at risk the benefits to which our city/county employees are entitled. Any solution for solving the pension crisis should include separating or otherwise protecting the participants of CERS from the dangerously underfunded KERS.
Will anyone else have the guts to speak out about it?
3 responses so far ↓
1 J. Bruce Miller // Mar 12, 2013 at 6:07 pm
I applaud Jim on this decision. Real Leadership is a very important asset that’s needed in this City. To be sure, Real Leaership (capitalized) has been dormant for years. What is Real Leadership? Many opinions exist on this — but mine is simple “taking the bull by the horns and bringing it to the ground despite the kicking and screaming of the bull.”
If anyone can remember when a politician did this around here I’d be interested in considering the proffer of an incident and the politician.
2 Here'sthething // Mar 12, 2013 at 8:46 pm
Where was his “leadership” when Tobe brought this to light a looooong time ago? Some his pals are the very reason Ky. is screwed.
3 J. Bruce Miller // Mar 14, 2013 at 4:53 pm
‘The silence in response to my question is as defeaning as it is saddening.
Thanks to Jim King for showing my definition of “Real Leadership” on this unbelieveably important issue.
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