A recent letter claims the pension crisis is a result of Democrats holding office for 60 years. Nothing could be further from the truth.
From 1997 until the Gov. Ernie Fletcher fiasco, the Kentucky Employees Retirement System and the Kentucky Teachers’ Retirement System were funded at greater than 100 percent. Republicans took control of the Senate in 1999 and the governor's office in 2003. Before Fletcher took office, KTRS was funded at 125 percent and KERS was funded at 111 percent. When Fletcher left office in December 2007, the systems were decimated. KERS was down to 68 percent funding and KTRS was down to 52 percent. Decimated is too gentle a term for what I think was intentional vandalism on the part of Republicans. Failure is the Republican product.
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