Governor, Fund board are right

Governor Fitial and the Retirement Fund were both right in their decisions to save the Fund. The bankruptcy declaration by the board came less than a week after my public prediction that it would happen, adding another “I told you so” to my credit. The governor has certainly offered the best solution by changing Article 11 to save the Fund, which will virtually repay the hundreds of millions owed by the government to the Fund. Needless to say, the governor has solved most of the problem and the only question is who and when will the work start to make sure the governor’s solution is implemented.

Having the solution and no one to do the work is useless because getting the amendment to the ballot and getting it passed can’t be done from the Governor’s Office or the boardroom, which is part of the reason I offered my services. It doesn’t take a political scientist to know the amendment is really the Fund’s amendment and salvation. It is going to take leadership of the board on the ground working with retirees, the Legislature, the governor and the voting public to fix this major problem. Someone is going to have to roll up their sleeves and do the work.

The Retirement board finally pulled the trigger to end all the speculation and after assessing all the options it is clear they chose the best option that would allow them to fix the problem. All the lawsuits and speculation about receiverships and attorneys are now moot issues. The board can now concentrate on keeping the Fund alive and fixing the major problem of getting the infusion of cash needed to restore the Fund’s financial integrity.

Most readers know the governor and I have often differed in the past and that I have been the most outspoken about our differences. But the governor has proven to me he is a bigger man in his willingness to listen to what I have to offer. Just as he has changed his heart politically and rejoined the GOP, I have to be willing to change my heart and join him, especially if there is going to be any real hope of truly fixing the problem. I can’t allow our differences of the past to adversely affect the future and I’m sure the governor will agree, especially when there are so many futures at stake in all the retirees, non-retired and their families.

Sixto was the first to realize the board needed help on the ground, which is how Hienz was offered the contract. But more importantly is the fact that the governor and the board both need help on the ground, which is why a politician would not have been the best choice. First and foremost, the governor’s proposed amendment needs a little tweaking before it is capable of being passed. Secondly, the governor and the Fund board must realize and accept the responsibility of getting the amendment passed on the ballot—do the work on the ground. And finally, the governor and the Fund must create a mechanism to educate retirees and voters on the amendment as there is no room for errors. We certainly can’t expect the amendment to pass simply because it is on the ballot—someone has to do the work. The board is also going to need someone to help them with retirees in the bankruptcy matters, so help is obviously needed.

I have witnessed all kinds of things since I began to look into this matter and not all retirees are on the same page, which tells me the rest of the stakeholders may also be on different pages. The bankruptcy declaration forces everyone to get on the same page and work together to save the Fund or it is going to die!

I see the bankruptcy issue as really being secondary to getting the governor’s amendment passed, which fixes the entire problem—so we shouldn’t lose sight of the prize because of the smoke in the air caused by the bankruptcy filing. As Sixto said in the news, the bankruptcy should cause everyone to work together because we have no choice but to restore the integrity of the Fund.

There has been a lot of talk and little action taken by the Legislature but I’m still concerned with who is going to do the work to get the governor’s amendment fixed, on the ballot, and passed by the voters. The governor’s amendment may not pass as presently written but it is the answer to the Fund’s $300 million question that voters will answer because the amendment represents 99 percent of the Fund’s solution. If the amendment passes, the Fund’s problem is fixed—end of story. It is just that simple and easy to resolve but someone has to do the work and the work should have started a long time ago!

So I hope the governor, the board, retirees and voters can understand why I have been so persistent because I’m so afraid that by the time the powers-that-be can react and do the work, the Fund will already be dead! Reiterating my sincere appreciation to the governor for his consideration and hopefully the work can get started to save the Fund that is now officially in ICU! It should be clear now that every stakeholder in the Fund needs to try their very best to be part of the solution and not part of the problem.