One of the pending pieces of legislature currently being considered in Frankfort is Senate Bill 45, which would require that the amounts of current and former legislators’ pensions be disclosed to the public.
You say you assumed that such a clear expenditure of public money would already be a part of the public record? Well, it should. But it’s not. And it’s long past time that the public should be made aware of what sweet deals many of our lawmakers have crafted for themselves.
It’s outrageous enough that Kentucky legislators don’t participate in the same pension system as all other state employees – the one they’ve allowed to become perilously under-funded over the years. No, they have their own system – one they’ve created specifically for themselves – and they’ve made darn sure it’s on solid financial footing.
But on top of that, up till now they’ve seen fit to keep their annual benefits – some extending well into six-figure territory – a secret from the rest of us.
If it often seems that our representatives are more concerned with getting re-elected than serving the people, these lucrative pensions could be a primary reason for that. And these days, when so many of their constituents can’t even afford to retire, the least our elected officials should do is open up the books and let them see how the other half lives.
Call and tell us if you agree.
I’m Bill Lamb, and that’s my Point of View.