Below is a statement from Press Secretary Amanda Stamper on today’s Supreme Court of Kentucky ruling in university allotment case:
“We are disappointed in the Court’s decision today and strongly disagree with its reasoning. The Attorney General clearly does not understand the severity of the pension problem which became the nation’s worst funded plan under the watch of his father’s administration.
“Today’s ruling only affects $18 million of the universities’ overall budgets which is 0.0027 of their annual $6.6 billion expenditures. Nonetheless, we have to be vigilant about every taxpayer dollar spent if we are going to solve our pension crisis.
“The Commonwealth’s public universities have thousands of employees who participate in our pension system and, having such a large stake, should be part of the solution to fix the state’s $35 billion underfunded pension liability. Gov. Bevin recognizes that preserving our retirement systems for state workers and retirees is both a legal and moral obligation.
“We remain determined to fix Kentucky’s pension crisis, no matter the opposition. This administration will continue to use every available tool to solve our pressing financial problem.”