State of Kentucky Archives: 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

Alison Grimes: Keep our promises to our nation's seniors

I am running to protect and strengthen Medicare and Social Security. I believe in keeping our promises to our nation's seniors while preserving these programs for our children and grandchildren. But rather than pushing for privatization, vouchers, or simply shifting costs to seniors, we should be looking for ways to spend smarter. We should focus on reducing waste, fraud and abuse in the Medicare system, improve coordination of care between doctors, hospitals and patients, and allow Medicare to better negotiate prescription drug prices

Instead of strengthening and preserving these critical programs, Mitch McConnell plans to end Medicare as we know it. Thousands of seniors would be forced back into the prescription drug "donut hole," costing them approximately $13,000 more by 2022 than under current law. I believe we've got to balance the budget, but we've got to do it the right way, and that means protecting the benefits and programs seniors have paid into over a lifetime of hard work.

Source: Secretary of State campaign website, alisonforkentucky.com Dec 31, 2012

Jack Conway: Pledges to not scale back program nor raise retirement age

Conway is the public face of a new push led by the Progressive Change Campaign Committee that is targeting GOP candidates who support privatizing or cutting Social Security. "Rand Paul, the Tea Party leader running against me for Senate in Kentucky, thinks Social Security is unconstitutional," Conway says in a letter to supporters of the progressive group. Joining Conway are some 200 other Democratic House and Senate candidates who have signed on to a pledge rejecting any effort to privatize or scal back Social Security benefits or raise the retirement age.

In an interview with ABC News, Conway said that Social Security represented an "area of stark contrast in the race." During the course of the campaign, Paul has suggested raising the retirement age and Conway has alleged his opponent believes Social Security is unconstitutional.

It's a claim that Paul denied as recently as Sunday night: "I've never challenged it and I do not challenge the constitutionality of it," Paul said at a debate.

Source: ABC News coverage of 2010 Kentucky Senate debate Oct 18, 2010

Rand Paul: I've never challenged constitutionality of Social Security

Conway is the public face of a new push led by the Progressive Change Campaign Committee that is targeting GOP candidates who support privatizing or cutting Social Security. "Rand Paul, the Tea Party leader running against me for Senate in Kentucky, thinks Social Security is unconstitutional," Conway says in a letter to supporters of the progressive group. Joining Conway are some 200 other Democratic House and Senate candidates who have signed on to a pledge rejecting any effort to privatize or scale back Social Security benefits or raise the retirement age.

In an interview with ABC News, Conway said that Social Security represented an "area of stark contrast in the race." During the course of the campaign, Paul has suggested raising the retirement age and Conway has alleged his opponent believes Social Security is unconstitutional.

It's a claim that Paul denied as recently as Sunday night: "I've never challenged it and I do not challenge the constitutionality of it," Paul said at a debate.

Source: ABC News coverage of 2010 Kentucky Senate debate Oct 18, 2010

Rand Paul: Raise the retirement age for people under age 55

Q: If you want to get serious about the national debt, you have to do something about entitlements. Tell me of a single benefit you would reduce?

PAUL: Well, you don't do anything to people who are currently receiving Medicare or Social Security. But we do have to admit that we have the baby boom generation getting ready to retire. There will have to be changes for the younger generation.

Q: So you would raise the retirement age?

PAUL: For younger people, yes.

Q: So higher deductibles or higher premiums, for people 55 or younger?

PAUL: Yes. You're going to have to have eligibility changes for the younger people. And I think all younger people, if they're honest and will admit to it and have an adult discussion and not demagogue the issue, will admit that younger people will have to have different rules.

Source: Fox News Sunday, 2010 Kentucky Senate debate Oct 3, 2010

  • The above quotations are from Commonwealth of Kentucky Politicians: Archives.
  • Click here for definitions & background information on Social Security.
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2016 Presidential contenders on Social Security:
  Republicans:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI)
Democrats:
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
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Page last updated: Dec 11, 2015