Matt breaks down the Kentucky State Senate’s pension bill as the details of the bill are coming out, which means a lot of changes for teachers in the Commonwealth.


  1. No, No, No, No! This is NOT a pension issue. This is a revenue issue. Our retirement was soundly invested in with OUR SALARY until legislators passed a law in 2011 allowing them access to our funds to “cover shortfalls” in the budget. NOT OUR PENSIONS JOB! Only took our money to cover the legislatures bad investments.
    This plan is not good for educators and public workers, not good for public schools and not good for Kentucky. We need real solutions to generating real revenue to pay our bills and move our state forward.
    Short sighted thinking cost us the Amazon headquarters!!

  2. This pention reform affects ALL PUBLIC SERVANTS in Kentucky Not just teachers! When covering a story you should report accurately. Also, public servants pay attention!

  3. This proposal is not a win! The government stole the money intended for the pention for decades and now the government wants to punish the public servants for what the government has done! They are the reason we are where we are.

  4. State employees (ie, all participants in Kentucky Retirement Systems) haven’t received COLAs since July 1, 2011. So the discussion of ending COLAs applies only to Teacher Retirement.

  5. Glad you picked up for shift to local gov. But fell for the ruse. This is not a win for public or a loss for Bevin. Not as terrible. Most of the parts of Bevin’s bill taken out were clearly illegal and written by a health care actuary, but it had the desired effect of making this horrible bill look less bad. Hybrid plan has the same harmfull $4.8 billion Savings comes right out of compensation for Teachers & other public workers. Same net effect as a salary cut. So only vote for SB1 if you believe that teachers & public workers are overpaid $4.8 billion- do not pretend you are fixing pensions. For real solutions see my book

  6. That’s a common mistake. It was the unwillingness of pension investors to change the badly outdated assumptions of investment earning/expenses that drove the pension into the ground. The government hasn’t stolen anything from the pension plan, on the contrary they have put billions into it. It makes a good sounding talking point, and unfortunately it gets propagated continually.