Stay Connected



10 Days, 10 Ways Matt Bevin Lied To Kentucky: Pensions


10 Days, 10 Ways Matt Bevin Lied To Kentucky: Pensions 
 
FRANKFORT, KY -- Matt Bevin has spent his campaign proving exactly why Republicans called him an 'East Coast Con Man' and a 'Pathological Liar.' That's why each day for 10 days, the Kentucky Democratic Party is highlighting the top 10 reasons why Kentuckians cannot trust Bevin to be governor. 
 
Today's reason: Bevin lied about his pension record and plan.
 
"Matt Bevin has spent his campaign lying to Kentuckians and proving why even Republicans called him the 'East Coast Con Man,'" said David Bergstein of the Kentucky Democratic Party. "Bevin claims he's a pension expert, but the truth is he lost money for retirees while charging 'above average' taxpayer funded fees -- and his plan would jeopardize Kentucky's pension system and force seniors to gamble with their retirement on the stock market.  It's all just more proof why Kentuckians do not trust a 'Pathological Liar' like Bevin to be governor." 
 
Earlier today, the Franklin County Democratic Party released a new digital ad targeting Franklin County seniors and highlighting the contrast between Bevin and Attorney General Conway on pension issues. 
 
In case you missed it, here's reason 10 voters can't trust Bevin. 
 
See for yourself: 
 
The State Journal: “Bevin’s Pension Experience Less Than Stellar.” “And while gubernatorial Republican candidate Matt Bevin has told voters his pension experience would help Kentucky’s pension systems, his former company was paid millions in fees when two pension funds it managed underperformed and one struggled to cover costs and still pay benefits. “ [The State Journal, 9/5/15]
 
Pension Expert: Bevin's Plan "Throws Pension-Holders Under The Bus.” "Siedle said Bevin’s plan 'throws pension-holders under the bus' by exposing their retirement funds to the volatility of the stock market." [WFPL, 10/16/15]
 
National Public Pension Coalition: "Bevin plan would further endanger state pensions." "The 401(k)-style accounts don't offer the same guarantee and they are also a bad deal for taxpayers." [The Lexington Herald-Leader, 10/11/15]
 
Matt Bevin’s Plan to Move Employees onto Defined Contribution Plan Would Jeopardize Financial Security of Firefighters, Police, Teachers. The International Association of Fire Fighters says plans like Bevin’s “jeopardize the financial security of those who serve in dangerous occupations.” The Fraternal Order of Police say plans like Bevin’s mean “reducing retirement benefits for employees.” And the National Education Association says plans like Bevin’s could leave teachers “suddenly unable to retire,” should the market crash. [Courier-Journal, 5/19/15; IAFF, 5/05/11; FOP, accessed 7/27/15; NEA Today, 3/23/12]
 
Republican Columnist Dyche: Bevin’s Pension Wouldn’t  “Actually Solve the Problem.” “Even more important, his suggestions do not constitute a comprehensive proposal that would actually solve the problem of Kentucky’s enormous unfunded pension liability.” [Bowling Green Daily News, 3/06/15]
 
Kentucky Retiree: “Not Impressed with [Bevin’s] Candor or Honesty” on Pensions. “Fred Nett, with the group's north central chapter, asked Bevin for specifics about his plan, saying that ‘addressing the issue of new hires has nothing to do with the problem that we're currently facing.’…Afterward, said he doesn't think Bevin understands the intricacies of the pension systems. Bevin used ‘weasel words regarding what the state's contractual and moral and legal obligation is to employees and retirees who are part of KRS,’ Nett said.” Nett went on to say that he was “not impressed with [Bevin’s] candor or honesty” about pensions. [Herald-Leader, 6/26/15]
 
###