All Articles - City Limit News
Special Session Ends With No Pension Bill
The House and Senate adjourned sine die Tuesday night after an agreement could not be reached on a new pension reform bill.
New Pension Bills Filed in House
The 2018 special session started Monday night with the introduction of two pension bills, both sponsored by Representative Jerry Miller. House Bill 1 is an updated version of the pension reform bill the Kentucky Supreme Court struck down last week, Senate Bill 151, and House Bill 2 includes language restating the phase-in of CERS employer contribution rates.
Supreme Court Strikes Down Pension Law
An order handed down Thursday morning affirms a lower court ruling declaring the pension reform law, Senate Bill 151, unconstitutional. The state's high court agreed the bill did not meet the three-reading requirement in the Kentucky Constitution.
Register for 2019 City Day/City Night
It is time once again to mark your calendar. The annual City Day/City Night event will take place February 13, 2019.
Supreme Court Upholds Right-To-Work Law
The Kentucky Supreme Court issued several opinions Thursday morning, including a ruling on the KLC-supported right-to-work law that the legislature passed in 2017. It also set an expedited hearing schedule on the lawsuit over Marsy's Law for Kentucky. However, it did not release a decision on the pension law.
Experience Study Presented to KRS Board
The draft of an experience study conducted by the actuary for the Kentucky Retirement Systems raised questions about the amount of payroll growth being seen in the County Employees Retirement System (CERS). The KRS Board of Trustees received a preview of the report Thursday. It also recommends a slight reduction in CERS employer contribution rates.
KLC Details 2019 Legislative Agenda
KLC President and Mayfield Mayor Teresa Rochetti-Cantrell, First Vice President and Jeffersontown Mayor Bill Dieruf and Deputy Executive Director J.D. Chaney outlined the 2019 KLC Legislative Agenda to the Interim Joint Committee on Local Government. They explained why the separation of the County Employees Retirement System remains the top priority for cities and spoke on everything from equalization and modernization of the road funding formula to updating city classification reform.
Legislators Talk Taxes & Revenue at Series of NKU meetings
The Interim Joint Committee on Appropriations and Revenue met on the campus of Northern Kentucky University. The Office of the State Budget Director warned members of the committee that the Fiscal Year budget may not end as flush as FY 2018. The Task Force on Tax Expenditures also met at NKU, along with the Budget Review Subcommittee on Justice & Judiciary, which discussed bail bond reform.
Auditor Testifies on KentuckyWired Investigation
Kentucky Auditor of Public Accounts Mike Harmon testified before the Program Review and Investigations Committee on his office's recent review of the troubled KentuckyWired project.
Kentucky Supreme Court Hears Arguments on Pension Bill
All seven members of the Kentucky Supreme Court peppered Governor Matt Bevin's general counsel and Attorney General Andy Beshear with questions as they argued before the state's high court on the constitutionality of Senate Bill 151, the pension reform law.
Kentucky's Drug Epidemic Takes A Toll
Van Ingram, the executive director of the Kentucky Office Of Drug Control Policy, testified Wednesday on the growing number of overdose deaths in the state. The Tobacco Settlement Agreement Fund Oversight Committee also heard how local control is important as cities battle the epidemic.
Separation Advisory Committee Holds First Meeting
Members of the newly formed advisory subcommittee to study CERS separation have begun to meet. Separation is the top priority for KLC in the 2019 legislative session. The meeting began after a lengthy Public Pension Oversight Board (PPOB) meeting in which Kentucky Retirement Systems executives gave an overview of cash flow and investment returns for the end of Fiscal Year 2018.
CERS Grows While State Pension System Continues to Struggle
New data released Thursday at the Kentucky Retirement Systems Audit Committee shows CERS grew 6% in Fiscal Year 2018, despite seeing a decline in investment income from the previous fiscal year. The troubled KERS nonhazardous pension plan saw a $44 million loss. KLC believes separation of CERS from KRS is the best path forward to deal with management and administration concerns and ensure its continued growth.
Local Representatives Take Seats on 911 Board
Taylor Mill Mayor Dan Bell and Williamsburg Mayor Roddy Harrison have been appointed to the new 911 Services Board. It was formed after the governor signed House Bill 424, a KLC initiative to return local representatives to the board.
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Governor Promotes Local Control at Bill Signing
Supporters of House Bill 114 gathered at the Governor's Local Issues Conference for a ceremonial signing of the KLC-supported bill. Governor Matt Bevin told the crowd "I'd rather you'd control your own money."
Could CERS Have Better Investment Returns?
Returns posted by the Kentucky Retirement Systems for the end of the fiscal year show investments were above benchmarks, but recent changes in asset allocations may drag its numbers down. KLC continues to believe CERS separation is the best path forward for the local pension system to ensure it is not hampered by administration and management concerns.
