After failing to fully fund the state pension system for two decades, the legislature--in its infinite wisdom--is going to address the problem by "suspending" COLA increases for two years. According to Rick Rand the provision to suspend the 1.5 percent annual cost-of-living increase for retirement benefits is intended to help the system with its multi-billion dollar longterm unfunded liability. He also said, "We're going to pour all of that money back to the unfunded liability." I strongly suspect that statement is akin to, "The check is in the mail." I'm relatively certain if you're a state retiree you can kiss any future increases goodbye. By the way, how much of a shortfall is there in the legislative retirement system? Oh, I'm sorry, it is somehow fully funded!
So far for about $60,000 a day we've gotten an illegal redistricting plan and a budget which pretty much screws everyone with absolutely no discussion of increased revenues. I won't dwell on the other self-serving bills currently under consideration.
I know there is zero chance for term limits so I'm implementing my own plan. If you're an incumbent--no matter how much I like you personally--don't ask for my vote.
Tom Nelson
Frankfort
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