LMPD :: Louisville Metro Police Department
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273 Comments

Police say passerby may have saved life of LMPD officer attacked by homeless man

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RE: Police say passerby may have saved life of LMPD officer attacked...

August 28th, 2017 @ 11:50PM (7 years ago)

That's got nothing to do with CERS's problems at all. The state doesn't make an employer contribution for CERS pensions.

The counties and cities contributed the full amounts required by KRS, however the full amounts required of both employees and employers were far too low to keep up with what's required for pension payments. They underestimated how much it would cost, and they overestimated how much they'd make from their investments.

Those insisting they paid their fair share of the pension and deserve half-pay for life should understand nobody ever collected enough money to make that realistic for the long-term. The system will eventually default unless someone finds some money. The cash balance plan is already less than what many private sector 401k and retirement benefit plans offers. Most people with cash balance pensions will likely take office jobs somewhere else once they realize they're not going to make Sgt. The days of experienced street officers in Kentucky will be over for good in another 10 years.

RE: Police say passerby may have saved life of LMPD officer attacked...

August 30th, 2017 @ 9:50AM (7 years ago)

Very not true. In the early 90's, KERS and CERS allowed small departments and Sheriffs to join the pension system. The day they were allowed in, the officers nor their agencies paid a single dime into the system. That alone put the pensions in a major hole. Imagine that you were a 25 year officer. On Monday you were put in the system and turned around the next month, retired and milked the system without contributing anything.