Montell Planning to Gut State Pensions
Repug Kentucky house member Brad Montell is laying the groundwork to eliminate pensions for 34,000 state employees.
His first step is to propose changing the pension system for members of the General Assembly elected after next year. Newbies won't get the secure defined-benefit pension now available to current and former legislators, but rather so-called defined contribution 401K plans, otherwise known as "why grandpa has to work at McDonald's until he drops dead at 97."
And what a coincidence - Montell just happens to be a financial planner, who will make out like a bandit when tens of thousands of state employees suddenly find themselves having to fund their own retirement because Montell stole the pension the state of Kentucky promised them in return for 40 years of overworked, underpaid, disrespected service.
Because there's no chance in hell this little plan of Montell's is stopping with legislators, or with just state employees who are hired in the future.
No, no, trust me: By the time that slimy little needle-dick gets through, there won't be a current or retired state employee with a penny left in the pension accounts to which they have contributed 5 percent of their salary for 10, 20, 30, 40 years.
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1 comment:
This is an unbelievable perfidy! I can't believe this little cocksucker could even propose such a thing! This is the most blatant bait and switch - with a 40-year bait in some cases, as you point out. I mean, the whole point of wanting to work for the state is the pension - otherwise, it just ain't worth it!
Fortunately, he has to get the approval of the rest of the lege to pull off this bullshit. I kinda think that will be beyond his ability.
The rest of the lege want to be reelected, you see. Watch and see if he doesn't decide he's not going to run again next time up.
Bill Young would never have tried such a shitty maneuver.
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