LMPD :: Louisville Metro Police Department
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204 Comments

21-hour days and $320,000 of overtime highlight 'shocking' extra pay to 7 LMPD officers

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RE: 21-hour days and $320,000 of overtime highlight 'shocking...

November 22nd, 2017 @ 9:43AM (6 years ago)

They're looking to change the system because past Kentucky legislators and governors embezzled money from the pension funds to pay for other things in the state budget. They're also doing it because the Kentucky Retirement Systems used bogus estimates regarding future fund earnings and pension payouts. You can safely assume they created these estimates to make it easier for their superiors to withdraw the money they wanted. If they all worked for a private company, they'd have already been indicted, because what they did is illegal in the private sector.

A few weeks ago, Bevin's genius retirement plan was estimated to cost MORE and put the system in worse shape than if they left the retirement as-is. Now he's telling them to rig up some new numbers like the past Governors always had at their disposal.

RE: 21-hour days and $320,000 of overtime highlight 'shocking...

November 22nd, 2017 @ 9:49AM (6 years ago)

Bevin's not bright enough of a bulb to realize that when you put all the new people into a cash balance 401k type plan, then the system stops receiving all of the contributions that have always been required of those in defined benefit plans. You can't extract as much money from those having no real retirement just to pay for those who still have a retirement.

RE: 21-hour days and $320,000 of overtime highlight 'shocking...

November 22nd, 2017 @ 8:13PM (6 years ago)

Tier 1 can still spike... It has NOT changed