State Representative and co-chair of the Kentucky Public Pension Oversight Board Brent Yonts says he’s open to the idea of a comprehensive audit of the state’s debt-ridden pension system.
With unfunded liabilities totaling over $17B, Yonts tells cn|2 Pure Politics a full audit dealing with the actuarial firm that sets recommendations for pension funding levels could bump up costs slightly, but the effort might be worth it.
"Having more people look at it is probably a good thing," he says. "They may have some great ideas that help resolve the problem, but ultimately the problem cannot be resolved without a pot full of money."
Yonts was reacting to calls last week from the Kentucky Chamber of Commerce to bring in outside experts to examine the pension plans.
While State Auditor Adam Edelen has not made a decision on a full pension system audit, he has said it would require bipartisan support and extra resources for his office.
