House Republican Floor Leader Jeff Hoover, R-Jamestown, has called on Gov. Steve Beshear to form a task force to begin a comprehensive review of the Kentucky Teachers’ Retirement System during the 2015 Interim Session.  Rep. Hoover made his request to Governor Beshear in a letter sent to his office this afternoon.

“As you know we recently ended the 2015 Regular Session of the Kentucky General Assembly without reaching an agreement to reform the Kentucky Teachers’ Retirement System.  It is urgent that we learn what structural changes are needed as we seek to fully fund the system,” Leader Hoover wrote.  “For that reason I urge you to take immediate steps to form a bipartisan task force of House and Senate members, and persons in the private sector with expertise in pension reform to begin a thorough review during the 2015 Interim Session so we can address needed reforms during the 2016 Regular Session.”

In his letter Hoover pointed out that House Republicans have advocated for the last two years for a comprehensive study of KTRS, first with House Concurrent Resolution 179 during the 2014 Regular Session, and as an amendment to House Bill 4 which proposed to bond $3.3 billion for KTRS, and joining with Senate leaders during conference committee negotiations during the recently concluded 2015 Regular Session.

“Apparently there is a belief among some that the old ‘borrow and spend’ mentality is the way to fix the system,” wrote Hoover. “I would argue that you wouldn’t borrow money to build a house without knowing all the specific costs, especially if there are ways to save money by reviewing all aspects of construction.”

“For the sake of all Kentucky teachers, both our retirees and our current educators, we simply cannot wait another year to address the structural deficiencies in the KTRS system,” Hoover continued in his letter to Beshear. “I stand ready, along with the members of my caucus, to not only assist in your efforts to establish a task force but to also serve on it as well.  The issue of our teachers’ retirement is of great concern to all members of the House Republican Caucus, and I urge you to take action immediately.”