Sometimes you have to use plain words to describe a theftin broad daylight.

Read Kentucky teacher Randy Wieck’s description of the broad-daylight theft of teachers’ pension funds and what this means, not only to teachers, but to school districts across the state.

The Kentucky public pension “deform” abomination signed by Governor Bevin July 24, 2019 – opposed by all Senate Democrats and 9 Republicans in the Kentucky Senate, deforms the pensions – it does not reform them.

The essential knife-thrusts to the heart of the government retiree pension are these:

1) It clips future hires from the plan (and future pay-ins).

2) It allows 118 quasi-governmental agencies (rape crisis centers; health departments, regional universities, etc.) to buy out of the retirement plan with only vague plans to pay off their 30-year pension deb.

The amounts owed are so large it is daft to think the agencies could meet their obligations without declaring bankruptcy and then consequently cutting the benefits of retirees…

By pushing the pension obligations on to individual school districts and thereby increasing the percentage of school-district budgets that must be paid into the pension plan they force the districts to seek cover in bankruptcy.

This will result in significant job losses:

To wit, Louisville, Kentucky, where I am a teacher, recently shut all of its outdoor summer pools; cancelled the most recent police recruit class; and shuttered several libraries to cover increased pension costs. School districts will have to follow suit if this fiscal breach of faith, if this crime – goes unchallenged in the courts, our last resort.