2014 IN REVIEW This was the most eventful year in the brief history of Kentucky Government Retirees. We started 2014 by issuing several targeted Calls to Action to secure the full employer contribution in the biennial budget for the declining KERS non-hazardous fund. Working together as KRS stakeholders, we succeeded in having our voices heard and the full ARC was provided for the current budget. We also kept you apprised of the unfavorable bankruptcy ruling in the Seven Counties Services case, now on appeal, and of a new lawsuit filed by the City of Ft. Wright alleging improper investments and co-mingling of CERS and KERS funds; that case is languishing in Franklin Circuit Court. We took steps to improve our product by setting up a Twitter account that allows us to more closely monitor state and national media and opinion leaders, and to leverage our own messaging. We also added video capabilities to Facebook. Over the course of the year, we gained more than 1,300 new Facebook friends. More importantly, our group is strongly tuned in to pension issues – our engagement (likes, shares and comments) varies from around 800 a week to up to 2,000 and higher. As the year wore on, we began messaging about the critical need for more funding for K-non over and above the full ARC. We testified before the legislature’s Public Pension Oversight Board on this issue, and the board responded by adopting a recommendation to the legislature calling for more funding. We appeared on both “Pure Politics” and WKYT-TV Newsmakers to discuss the funding crisis, and we were quoted in the influential “Governing” magazine in an article on our nation’s worst funding status and the perils of chronic employer underfunding. Finally, this “group of two” met with key decision makers to share our views on the critical need for more money to stabilize the fund. We are hopeful these meetings have led to a broader understanding of the situation. What a year! 2015 will doubtless be busy, too. Please do your part to respond to Calls to Action and attend meetings. As always, pay attention to your pension.
Posted on: Wed, 31 Dec 2014 15:10:12 +0000
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