The Metro Council’s Budget and Government Accountability, Ethics and Intergovernmental Affairs Committees will focus learning about proposed changes to the pension system, the possibility of separating the County Employment Retirement System (CERS) from the Kentucky Employee Retirement System (KERS) and future costs associated with the pension system during back to back meetings on Thursday, September 21st.
At 4:00 PM, the Budget Committee is hosting the Kentucky League of Cities Government Affairs Manager Bryanna Carroll for a comprehensive review of the pension system and proposed changes.
“Metro Louisville is not the only city dealing with this issue,” says Councilwoman Marianne Butler (D-15), who chairs the Budget Committee. “It is important that we understand the impact the pension will have on future budgets from a monetary as well as a recruitment and retention basis.”
At 5:00 PM, or immediately following the discussion, the Council’s Government Accountability, Ethics and Intergovernmental Affairs Committee will discuss a resolution urging the General Assembly to separate CERS from KERS. Reports indicate that CERS is funded at greater than 60% while the beleaguered KERS is funded at less than 20%. The resolution is sponsored by the respective Caucus leaders Councilmen Bill Hollander (D-9) and Robin Engel (R-22).
“With a proposed Special Session planned for the coming weeks to review possible reforms, this resolution is very timely and other cities and county governments are advocating the separation to state lawmakers,” says Councilman Pat Mulvihill (D-10), the Chair of the Committee.
State Budget Director John Chilton recently estimated that Louisville Metro might possibly have to contribute nearly $50 million to cover Metro’s pension obligation.
All Metro Council Committee meetings are carried live on Metro TV, Spectrum Cable Channel 184 and on UVERSE Channel 99.
You can watch the meetings online by going to the Metro Council home page at http://louisvilleky.gov/government/metro-council/metro-council-clerk and click the “Watch Meetings Online” button