More Proof Bevin Wants to Bankrupt Kentucky

This is not rocket science West Virginia tried forcing their state workers into the stock market, only to see their retirement revenues plummet toward bankruptcy.  Returning to a defined-benefit pension plan restored the retirement system to solvency.

But bankrupting the retirement system in Kentucky is Gov. I Got Mine Fuck You's goal.

 

From the Herald:

A national credit rating agency said Thursday that proposed changes to Kentucky’s troubled pension systems are unlikely to affect the state’s credit rating, contradicting claims made by Gov. Matt Bevin as he pushed lawmakers to pass a pension bill during a December special session.

Fitch, a credit rating agency based in New York City, said the state’s ability to maintain full funding for pensions and eliminating its reliance on one-time money to fund ongoing programs are the most crucial factors in its credit-rating of the state, not the proposed changes to the pension systems.

“Even if the legislature and governor enact replacement legislation, Fitch anticipates further litigation,” the agency wrote, referencing the recent Kentucky Supreme Court ruling that struck down a pension overhaul bill lawmakers passed last spring. “Given the modest savings anticipated, the proposed pension benefit changes, and any related litigation, would not affect the state’s rating.”

The report contradicts the urgency Bevin claimed when he unexpectedly called the legislature into special session last month the week before Christmas.

He's already ripped health care away from hundred of thousands of Kentuckians, wrecking the pension system is going to be dessert.