Senate Bill 226 would separate the County Employees Retirement System plans from the rest of the pension system covering state and local public employees. The bill, now postponed for consideration in the upcoming special session, has far-reaching implications.
The bill would burden Kentucky Retirement Systems with providing all services for the outgoing CERS members for up to four years. This is the same KRS staff plagued by high turnover and that currently has more than 25 vacancies out of a workforce of about 250.
How much would all this cost? How many staff hours would be required? What assurance do KRS stakeholders have that CERS will document and pay all expenses? This bill also creates a new bureaucracy. Shouldn’t state government be examining ways to provide services more efficiently?
Gov. Matt Bevin is expected to call a special session for pension and tax reform. That is the appropriate forum for this radical and complex undertaking.