Gun Shop owner says New Albany was scammed during gun buyback event

Mayor Gray you said it best "governments under funding their pension commitments".

****Mayor Gray says such payments amount to 20 percent of Lexington's budget. They were only six percent of the city's budget back in 2000. He says the shortfalls are happening because of 1)stock market losses, 2)people living longer, and 3)governments under funding their pension commitments.****

1) Stock market losses are a direct result of the Lexington|Fayette pension board decisions on where to invest. Individual members did not make this choice just like members of the state system did not choose where to invest. People paid for advice that was incorrect or ignored. Where is the investigation on what went wrong?

2)People live longer yes but the increase in longevity hasn't outpaced the systemic failures to plan for this despite as I remember being taught in the 80's how better health| food leads to longer lives and better physiques. What was the life expectancy in 1990 versus 2010? It is only a few years so why no planning or were you hoping we would die at the same rate?

3)You said it best. Governments under funding "THEIR" pension commitments. All I can see is the old AAMCO commercials with the idiot holding a garden hose saying let me try boss I always wanted to fix a transmission then the tag line of you can pay me now or pay them later. If you check out the pay stub of the workers the full amount of their part was deducted. Why can't we say I will pay you back later if you let me keep a little now like the city and county governments have been doing for the last decade.

4) This is a personal observation. In state statutes there is a plan to have city and county governments increase their contribution rates to make up for the short fall that they didn't put in in the first place that had us 26 BILLION in the hole about 9 years ago. Or as they put it " unfunded liability" which means the government didn't contribute what it was supposed to and is why it now takes up 20% of the city budget. We currently stand at 33 billion in the hole. Mayor Gray you said it best "governments under funding their pension commitments".