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Strictly Business 9

KentucKy chamber president

DAVE ADKISSON VISITS CORBIN

Delivers message outlining state chamber’s legislative priorities for 2018 and lauds 2017 as a banner
year in the General Assembly for business-friendly legislation

entucky’s underfunded pension dave adkisson, president and ceO of the Kentucky
system has the state “under wa- chamber of commerce, spoke at the southern Ky
chamber monthly membership luncheon last november.
ter” and will take an entire gen-
Keration to totally solve.
That was the message from Ken-
tucky Chamber of Commerce President
Dave Adkisson, the featured speaker at
the Southern Kentucky Chamber of Com-
merce’s monthly membership luncheon
this past November.
Adkisson was a special guest of the
Southern Kentucky Chamber and pro-
vided what he views as the most pressing
issues for the current session of the Gen-
eral Assembly.
Back in 2007, Adkisson said he was
among others warning publicly that the
pension system needed reform.
“For the first five years or so, it was
hard for us to get Frankfort to pay atten-
tion to that,” he said. “Now, we’ve got a
crisis on our hands.”
The state’s budget director said the not accept the status quo. He said a plan we’ve got to dig our way out of it.”
pension system for most state employees unveiled by Bevin, former House Speaker Besides pension reform, Adkisson
(excluding teachers and those employed Jeff Hoover and Senate President Robert said the Kentucky Chamber’s priorities for
by city and county governments) would Stivers rates about a 6 or 7 on a 10-point this session include: stabilization of edu-
run out of funds in two years. For every scale on how far it would go to solve the cation funding, legislation that requires
$100 of promised benefits, only 13.8 problem. The Chamber’s own proposal teaching essential skills in schools, work-
cents was in the bank to cover them. gets a 5 or 6 he said. A recent proposal ers compensation reform, tax reform,
“That’s pitiful,” Adkisson said. “That’s by school superintendents, teachers and statewide infrastructure improvements
the worst funded [pension system] in the other education officials was a 2 or 3. and the ability of physicians to peer-re-
nation.” Adkisson said this session of the view procedures performed on patients
“It’s not a matter of … well, it’s just General Assembly will be the toughest in without the fear of those reviews being
another issue and we can deal with that many, many years because of the pres- used as evidence in court for malpractice
tomorrow. That’s what’s been happening sure to solve the pension problem, as lawsuits. Adkisson lauded the 2017 ses-
for 10 years.” well as enact tax reform. He added that sion of the General Assembly as the most
Overall, Kentucky’s public pension even during the 2017 session, it wasn’t as productive for businesses in 30 years. He
system is only about 38 percent funded difficult because federal stimulus money pointed to passage of Right to Work leg-
and has $60 billion in unfunded liabilities helped offset the pain. islation, repeal of prevailing wage, medi-
— about six times the state’s total annual “This time, with this pension crisis cal review boards, charter school legisla-
budget. looming, there is no Washington para- tion, passage of a pension transparency
Adkisson praised Gov. Matt Bevin for chute. There is no rescue,” Adkisson said. bill and modernization of alcohol laws as
having the courage to tackle the issue and “This is our problem. We own it and chief among 22 legislative victories.