Thursday, December 15, 2011

How slowly can we fix KY pension scandal?

For the first time, each caucus in the Kentucky General Assembly has filed a bill to fix the David Williams pension scandal.

In the Senate, Republican Jimmy Higdon pre-filed SB 26 to stop legislators from getting a huge pension boost if they can get appointed to an executive or judicial branch position for as little as three years. Democratic Senator Dennis Parrett previously filed a similar bill, SB 28.

In the House, Republican Rep. Ron Crimm already filed HB 65.

And now, House Democratic Rep. Mike Cherry has re-filed the same bill he filed last year and then ignored in his own committee.

The bills have some similarities and differences, but the one feature that stands out the most is how quickly they each take effect. Interestingly, Sen. Higdon's bill doesn't kick in until the end of 2014. This makes it the slowest one of the bunch. Sen. Parrett's bill actually stops legislators from grabbing the outlandish pension boost on August 1, 2012 and goes so far as to shut down the Legislators Pension Plan to new members on the same date.

Sen. Parrett has the right idea.