Bevin administration asks for re-do on report that was critical of pension reform
FRANKFORT, Ky. — The Bevin administration, which on Monday refused to release one consultant's report on his pension reform bill, asked on Tuesday for a revision of a different consultant report released last week that raised doubts about the bill.
In a news release, Bevin administration Budget Director John Chilton called for the consultant to Teachers' Retirement System to redo its analysis of the bill using "a more appropriate set of assumptions."
At issue is an analysis by Cavanaugh Macdonald Consulting. It was the first official scoring of the 505-page pension reform bill proposed by Bevin and Republican legislative leaders last month. Among its findings is that Bevin's reform plan – as it affects the retirement plan for teachers – would cost taxpayers an extra $4.4 billion over the next 20 years, according to the Associated Press.
But Chilton said, "The actuarial assumptions in Cavanaugh Macdonald's most recent report are significantly different from those in the actuarial calculations provided to our consultants during the planning process."
Read more: http://www.courier-journal.com/story/news/politics/2017/11/14/bevin-wants-critical-pension-report-redone/863080001/