2015 KY Governor's race: on Social Security


Matt Bevin: Replace public pension system with 401(k) for new employees

It's time for a Governor who will deal with Kentucky's unfunded pension liabilities that are in excess of $20 billion and likely more than double that amount. Our plan will fix our public retirement system while ensuring that we meet the existing obligations we have made to retired state workers. This starts with instituting an immediate freeze on the expansion of participants in our current pension plans and implementing a 401(k) style defined contribution plan for new employees.
Source: 2015 Kentucky Gubernatorial campaign website, MattBevin.com Aug 11, 2015

Jack Conway: Sue banks to recover Great Recession public pension losses

One of Kentucky's public pension systems lost $69 million because it unknowingly purchased risky mortgage-backed securities in the run up to the 2008 housing market crash. But now, the system got $23 million of those losses back in an unprecedented settlement with Bank of America and its related companies. Democratic Attorney General Jack Conway announced the settlement along with the federal Department of Justice and attorneys general from five other states. The $23 million settlement covers $21 million in losses the retirement system suffered specifically from securities purchased from Bank of America and its subsidiaries Countrywide and Merrill Lynch.
Source: Associated Press on 2015 Kentucky gubernatorial race Aug 22, 2014

  • The above quotations are from 2015 Kentucky Gubernatorial race: debates and news coverage.
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Candidates and political leaders on Social Security:

Retired Senate as of Jan. 2015:
GA:Chambliss(R)
IA:Harkin(D)
MI:Levin(D)
MT:Baucus(D)
NE:Johanns(R)
OK:Coburn(R)
SD:Johnson(D)
WV:Rockefeller(D)

Resigned from 113th House:
AL-1:Jo Bonner(R)
FL-19:Trey Radel(R)
LA-5:Rod Alexander(R)
MA-5:Ed Markey(D)
MO-9:Jo Ann Emerson(R)
NC-12:Melvin Watt(D)
SC-1:Tim Scott(R) 		Retired House to run for Senate or Governor:
AR-4:Tom Cotton(R)
GA-1:Jack Kingston(R)
GA-10:Paul Broun(R)
GA-11:Phil Gingrey(R)
HI-1:Colleen Hanabusa(D)
IA-1:Bruce Braley(D)
LA-6:Bill Cassidy(R)
ME-2:Mike Michaud(D)
MI-14:Gary Peters(D)
MT-0:Steve Daines(R)
OK-5:James Lankford(R)
PA-13:Allyson Schwartz(D)
TX-36:Steve Stockman(R)
WV-2:Shelley Capito(R) 		Retired House as of Jan. 2015:
AL-6:Spencer Bachus(R)
AR-2:Tim Griffin(R)
CA-11:George Miller(D)
CA-25:Howard McKeon(R)
CA-33:Henry Waxman(D)
CA-45:John Campbell(R)
IA-3:Tom Latham(R)
MN-6:Michele Bachmann(R)
NC-6:Howard Coble(R)
NC-7:Mike McIntyre(D)
NJ-3:Jon Runyan(R)
NY-4:Carolyn McCarthy(D)
NY-21:Bill Owens(D)
PA-6:Jim Gerlach(R)
UT-4:Jim Matheson(D)
VA-8:Jim Moran(D)
VA-10:Frank Wolf(R)
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Page last updated: Dec 07, 2018