AG Beshear: "I do have some concerns" with pension plan
Just hours after Gov. Matt Bevin announced his plans for fixing Kentucky’s pension system, Attorney General Andy Beshear made a stop in London to talk with retirees about everything from scams to pensions.
During the event put on by the Cumberland Valley chapter of the Kentucky Public Retirees Beshear mentioned that the plan did have some positive aspects such as current retirees being safe. He said that although there were some positive aspects he did still have concerns, specifically with the 401k system for new hires.
“I do have some concerns, with just the general presumption that moving to a 401k for new hires is a good thing, of the states that have tried it there have only been a few and at least three of them, it's gone very poorly,” said Beshear."Until it's a bill, until it's down in writing, it's very hard to evaluate.”