Do you approve of Robert Stivers as S...

Do you approve of Robert Stivers as State Senator?

Posted in the Manchester Forum

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Mary Gambrell

London, KY

#1 Jan 14, 2012
Mr. Stivers want to change the retirement to Defined Contribution instead of how the retirement system is set up now.Defined Benefit.
Clay County Citizen

London, KY

#2 Jan 15, 2012
What is the differeence, and is this a good change?
Cooties

London, KY

#3 Jan 15, 2012
It only matters if you are feeding at the taxpayer's trough. The rest of us just pay no matter what.
Roger

London, KY

#4 Jan 15, 2012
Defined contribution is a minimum amount required to be paid into an individual retirement account fund by the employee/employer, much like the 401k/403b operated in the private sector with no guaranteed benefit amount, whereas the Defined Benefit plan also has a minimum amount required to be paid into an individual retirement account fund, much like the current state pension system and guarantees a benefit amount based upon years of service and best average salaries at time of departure/retirement.

The private sector DOES NOT typically utilize defined benefit plans but MOST ALL public sector (state/county) employess and unionized orgnizations utilize the defined benefit plans which are advantageous to the employee and not necessarily the Commonwealth.

The state defined benefit plans are whoefully underfunded and have liabilities into the millions and millions, thus changes to the state benefit plans are going to be necessary in order to help them remain solvent and reduce the burdens on the Commonwealth.
Clay County Citizen wrote:
What is the differeence, and is this a good change?
Roger is Correct

Somerset, KY

#5 Jan 15, 2012
Roger wrote:
Defined contribution is a minimum amount required to be paid into an individual retirement account fund by the employee/employer, much like the 401k/403b operated in the private sector with no guaranteed benefit amount, whereas the Defined Benefit plan also has a minimum amount required to be paid into an individual retirement account fund, much like the current state pension system and guarantees a benefit amount based upon years of service and best average salaries at time of departure/retirement.
The private sector DOES NOT typically utilize defined benefit plans but MOST ALL public sector (state/county) employess and unionized orgnizations utilize the defined benefit plans which are advantageous to the employee and not necessarily the Commonwealth.
The state defined benefit plans are whoefully underfunded and have liabilities into the millions and millions, thus changes to the state benefit plans are going to be necessary in order to help them remain solvent and reduce the burdens on the Commonwealth.
<quoted text>

Due to increased utilization, new technology, federal and state mandated benefits etc. the cost to provide healhcare benefits is increasing at a pace triple the rate of inflation. Combine this with chronic underfunding by the legislature, overprojection of investment earnings and increased longevity by retirees and you have a system ready to implode. You can reduce benefits, increase the retirement age, require more employee contributions, raise taxes or reduce services in other ares to cover the pension and healthcare obligations.
Health care costs for a family of four have doubled in less than a decade from $9,235 in 2002 to over $19,000 in 2011. When defined benefit plans were established no actuaries were projecting these kinds of contingencies. I vote we raise taxes and reduce other services so everyone can keep their definded benefit plans.
wilma

London, KY

#6 Jan 15, 2012
robert all right glad he quit defending the big drug dealers and crooks in clay
FYI 2012

Manchester, KY

#7 Jan 15, 2012
he should help make it a priority for food stampers to take drug tests and make them quit selling their stamps so kids will not go hungry!!! another thing whay does a F/S need to buy 30 cases of POP... except to sell it....
just me

Greenbrier, AR

#8 Jan 16, 2012
YES Robert has done alot for this county and needs to stay in his position.
A Promise

Dyer, TN

#9 Jan 16, 2012
Kentucky chose the model of a defined benefit plan instead of a defined contribution plan for our state and teacher retirement systems for mainly two reasons.

For one, our legislators have understood quite well that those who contribute to these plans have for the most part a defined salary. There is no increase in pay during the minimum 33 year service period for those who participate since there is no chance for promotion or profit-sharing as would be the case within the private sector. Beginning teachers are always paid from the lowest end of the pay scale while experienced teachers are always paid from the highest, and the reality is that over those years of service all teachers accrue the same total income.

And secondly, our legislators knew they should not create a retirement system based on defined contributions simply due of the volatility of the private sector investments which would in effect underwrite the payments made from those plans. It was a risk the General Assembly recognized they must not take as they were being charged with creating a system which would eventually be relied upon to protect and provide for those who would labor to serve and protect each of us and our families.

Simply because people, like Roger and others in this forum, have failed to hold government accountable for protecting our state’s commitment to providing a solvent public retirement system, this must not mean those same people can now declare government should at this time renege on its long held promise to our teachers and state employees. If necessary, taxes and other sources of revenue must be increased to fulfill the guarantee the people of our state originally gave to those who committed their lives in service to our commonwealth.
Curious

Dyer, TN

#10 Jan 16, 2012
Does anyone know where Ralph Hoskins stands on this issue?
coal miner

London, KY

#11 Jan 16, 2012
I dont know but I will find out. I believe Mr Hoskins would be good to us common folks. I think he would tell you the truth and not try to put on a big show. Who else is running.
Roger

London, KY

#12 Jan 16, 2012
Making political promises that can't be kept are the problem and increasing taxes and cutting services and other important programs to meet those demands of public employee union members is not the best solution.

A new system that is free market economy based and is utilized by the vast number of private sector workers in America will suffice to meet the benefit plan needs of new hires into the retirement systems.

It is easy to point fingers and castigate blame, but that does not resolve the dilemma. We must have leaders who will speak the facts and the reality, no matter how bitter the taste, we must seek solutions and stop kicking the can down the road, we have run out of promises, running low on leadership, and are about to run out of roadway.
A Promise wrote:
Kentucky chose the model of a defined benefit plan instead of a defined contribution plan for our state and teacher retirement systems for mainly two reasons.
For one, our legislators have understood quite well that those who contribute to these plans have for the most part a defined salary. There is no increase in pay during the minimum 33 year service period for those who participate since there is no chance for promotion or profit-sharing as would be the case within the private sector. Beginning teachers are always paid from the lowest end of the pay scale while experienced teachers are always paid from the highest, and the reality is that over those years of service all teachers accrue the same total income.
And secondly, our legislators knew they should not create a retirement system based on defined contributions simply due of the volatility of the private sector investments which would in effect underwrite the payments made from those plans. It was a risk the General Assembly recognized they must not take as they were being charged with creating a system which would eventually be relied upon to protect and provide for those who would labor to serve and protect each of us and our families.
Simply because people, like Roger and others in this forum, have failed to hold government accountable for protecting our state’s commitment to providing a solvent public retirement system, this must not mean those same people can now declare government should at this time renege on its long held promise to our teachers and state employees. If necessary, taxes and other sources of revenue must be increased to fulfill the guarantee the people of our state originally gave to those who committed their lives in service to our commonwealth.
Roger is Correct

Elizabethtown, KY

#13 Jan 17, 2012
Roger wrote:
Making political promises that can't be kept are the problem and increasing taxes and cutting services and other important programs to meet those demands of public employee union members is not the best solution.
A new system that is free market economy based and is utilized by the vast number of private sector workers in America will suffice to meet the benefit plan needs of new hires into the retirement systems.
It is easy to point fingers and castigate blame, but that does not resolve the dilemma. We must have leaders who will speak the facts and the reality, no matter how bitter the taste, we must seek solutions and stop kicking the can down the road, we have run out of promises, running low on leadership, and are about to run out of roadway.
<quoted text>
From the Lexington Herald Leader "Beshear Outlines Inadequate Budget Proposal"
Several key programs would be exempt from the 8.4 percent cuts, while others would receive smaller cuts.

Exempted programs include: Medicaid; the main funding formula for K-12 schools; preschool; veteran's affairs; child and adult protection; mental health; prisons, probation and parole; public defenders; student financial aid; mine permitting and reclamation; and the Kentucky Horse Park .

Programs that would receive smaller cuts include: universities and community colleges, 6.4 percent; aging and independent living services, 6.4 percent; grants to local school districts, 4.5 percent; career and technical education, KET, libraries and archives and vocational rehabilitation programs, 4.2 percent; mine safety, 4.2 percent; Kentucky State Police, commonwealth and county attorneys, juvenile justice and local jail support, 2.2 percent; and property valuation administrators, 2.2 percent.

Although the main funding formula for K-12 schools wouldn't be cut, population growth means spending per student will decline. Also, education officials say the current year's population estimate was low, resulting in a more than $50 million cut to that funding formula.

The legislative and judicial branches of state government also would face an 8.4 percent cut in their operating budgets, Beshear said Tuesday. However, the judicial branch would get some increases in its funding for projects, including an overhaul of its computer system.

Despite calling for budget cuts, Beshear did propose $815 million in new spending, including:

&#9632; $372 million to pay existing debt obligations and $19 million for new debt payments;

&#9632; $79 million for retirement contributions for state workers;

&#9632; $88 million for increased health insurance costs for state workers and retired teachers

Read more here: http://www.kentucky.com/2012/01/17/2032410/be...
Roger

Versailles, KY

#14 Jan 18, 2012
I encourage the voters and interested citizens of the 90th House District (COUCH) and the 25th Senate District (STIVERS) to observe the votes that take place on the budget proposals offered by the Governor and the priorities being set for state tax dollar expenditures (less we forget it is tax payer dollars being spent, borrowed against, and appropriated by the elected officials).
blaster

Harrison, AR

#15 Jan 19, 2012
never helps us.
Roger

London, KY

#16 Jan 20, 2012
Call leave multiple messages, write a letter, submit an email, catch them in the local stores (not that you will see Couch in town, doubt if anyone can even recognize him in Manchester) but Stivers can be found shopping in Walmart, Dollar General, etc.

Make them stop and talk and remind them you are a registered voter and want their time and attention for your issue. They may or may not be able to resolve the issue, but the least that can be offered to you is their ear and their reply.
blaster wrote:
never helps us.
Ribbons and Bows Inc

New York, NY

#17 Jan 20, 2012
Hmmmm....Ole Senator Stivers sure wasn't worried about the states finances when he wanted to build his own little bridge to nowhere for the big scam know as Waste Not Tech.
Barney McGoogle

Dyer, TN

#18 Jan 21, 2012
Ribbons and Bows Inc wrote:
Hmmmm....Ole Senator Stivers sure wasn't worried about the states finances when he wanted to build his own little bridge to nowhere for the big scam know as Waste Not Tech.
Wastewater
Oneida

Somerset, KY

#19 Jan 21, 2012
Robert Stivers all the way!!
Reid

Dyer, TN

#20 Jan 21, 2012
What does Ralph Hoskins think about this?

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