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RESOLUTION
A RESOLUTION SUPPORTING THE PASSAGE OF HOUSE BILL 600 OF
THE KENTUCKY LEGISLATURE THAT WILL PROVIDE MUCH NEEDED
FISCAL RELIEF TO LOCAL GOVERNMENTS THAT PARTICIl'ATE IN
THE COUNTY EMPLOYEES RETIREMENT SYSTEM (CERS)
WHEREAS, many local governments provide pension benefits for their
employees through the Kentucky Retirement System; and
WHEREAS, Paducah participates in the County Employee Retirement System
(CERS) that is a part of the Kentucky Retirement System; and
WHEREAS, pension contribution rates for CERS employers have increased
121% since 2002 and are rising at an unsustainable rate; and
WHEREAS, increasing pension expenses for local governments are reducing
available funds for other critical services such as police, fire and transportation; and
WHEREAS, local governments have no control over pension system benefits and
contribution rates which are determined by state statute and the KRS Board of Trustees; and
WHEREAS, House Bill 600 represents an important first step in addressing
pension system reform efforts by creating atwo-tiered system, establishing practical accounting
requirements and other common sense changes to the present system; and
WHEREAS, House Bill 600 does not in any way affect the benefits of existing
employees, current retirees or require the commitment of any state funding; and
WHEREAS, House Bill 600 must be enacted during the current session to
capitalize upon the retirement wave of government employees due to pension system changes
,_~. effective January 1, 2009.
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE CITY
OF PADUCAH, KENTUCKY:
SECTION 1. That the Board of Commissioners of the City of Paducah hereby
voices its enthusiastic support of House Bill 600 of the Kentucky Legislature to reform the
County Employees Retirement System as well as the other state retirement systems.
SECTION 2. This Resolution shall be in full force and effect from and after its
adoption.
~J~
MAYOR
ATTEST:
_ Tammara S. Brock, City Clerk
Adopted by the Board of Commissioners March 11, 2008
Recorded by Tammara S. Brock, City Clerk, March 11, 2008
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