Why is the state paying this guy a six-figure salary?
According to the Courier-Journal, Bill Hanes, head of the Kentucky Retirement Systems, will retire June 1. He is currently making $170,000 a year and is estimated to draw an annual $127,000 pension when he retires. Hanes was an outspoken opponent of the Senate's plan to overhaul Kentucky's struggling pension system that is saddled with long-term debt. But, I guess it was time for him to leave. Hanes offered no solutions to the pensions system's woes, even though he is the head of KRS. Shouldn't he had been the one that researched a way to reform pensions? What was the state paying him for?
Good riddance, I guess. Hopefully they will hire someone that isn't afraid to tackle new ideas.
"I think it is appropriate we have some new leadership in that organization," Williams said yesterday. "He was not prepared to discuss the need to change the benefit structure. And rather than trying to advance the discussions early on, it appeared he tried to give the House cover on the issue."
Hanes said the controversy had nothing to do with his decision to retire and that he felt obliged to urge lawmakers to take care in changing benefits.
"I was going to retire six years ago when I took this job. But I stayed here to accommodate the board and because I've got a very strong interest in protecting (the retirement systems)," Hanes said.
"I don't have any hard feelings against David Williams. I seem to be in the way, and I was raising issues of making sure when you make a dramatic change in our retirement plan that those issues are discussed in an open forum, that stakeholders have an opportunity to talk," Hanes said.
Good riddance, I guess. Hopefully they will hire someone that isn't afraid to tackle new ideas.
posted by kypundit at
12:10 PM
3 Comments:
There are far better options than Hanes, Williams, or the Gov's Committee to study the Ret Syss. Their solution is to pour a ton of money into the Ky Ret Syss without any reform. And, ther is pleanty to reform. The Gov's Committee is stacked with members of the Ret Syss and those who messed it up. No one speaks for the taxpayers.
That's very disappointing if the Blue Ribbon Panel is packed with KRS government bureaucrats. They will most likely recommend a very watered down reform of the pension system.
Hanes resigned because of an impending scandal read ralphlong.com for more details.
He did not want to drag down Jody Richards campaign.
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