Truth in the Barrel – “Devil's Cut | A Retiree's Message To The Federal Government”

Hosts: Amy McGrath & Denver Riggleman
Guest: Larry Totten, President of Kentucky Public Retirees
Date: January 20, 2026

Episode Overview

In this Devil’s Cut edition, Amy McGrath welcomes Larry Totten—ten-year president of Kentucky Public Retirees and lifelong public servant—to discuss the pressing issues facing Kentucky’s retired state workers. The conversation provides a candid look at underfunded pension systems, the ballooning cost of living, and what public sector retirees urgently need from both state and federal government.

Key Discussion Points & Insights

Larry Totten’s Background and Career in Public Service

• Early Start in Parks (01:44–02:28): Larry began working for the Kentucky park system in 1975, starting literally at the snack bar and eventually retiring as Deputy Commissioner.

  “May 16, 1975, I was at Fort Boonsboro Snack Bar as a cook.” — Larry (02:11)

• Favorite Park (02:22–02:48): Lake Cumberland is his personal favorite, though his family prefers Kentucky Dam Village.

The Public Pension Crisis in Kentucky

• Deteriorating Pensions (00:58–01:26 & 03:50–05:12): Larry became involved as an activist after realizing his own retirement fund was in trouble—something that shocked many long-serving employees.

  “My retirement system was not in as good a shape as what I had thought after getting nice little statements every August for 35 years.” — Larry (00:58) “It’s far better than it was five, six, seven years ago… but you’ve got to keep an eye on it.” — Larry (03:50)

• Watchdog Role (04:41): Larry details his role monitoring pension meetings and sharing updates for transparency and accountability.

Impact of Inflation & Cost of Living

• Frozen Income Since 2011 (05:12–06:23): Retirees’ checks have not changed in 15 years, even as costs rise.

  “For a dollar in July 2011, you now need $1.43 as of November. That’s a pretty substantial jump.” — Larry (05:31)

• 13th Check Proposal (06:18–09:50): A focal advocacy item, this one-time, extra annual payment would provide immediate but temporary relief from rising inflation.

  “The 13th check is an idea that basically the retirees would get a 13th check equivalent to the other 12… It’s a one-time thing.” — Larry (08:44)

The Mechanics of Pension Funding and Past Failures

• Unfunded Liability Explained (09:50–10:51): Larry breaks down the terminology and current status—his plan is only 28.9% funded, though it’s recovering.

  “The unfunded liability is the difference between what the pension system owes present and future retirees versus how many assets you have in it right now.” — Larry (09:55)

• How the Crisis Happened (10:51–12:35): Years of inaccurate data and underfunding by both sides of government exacerbated the crisis.

  “Governors and legislators… did not fund it correctly, didn’t fund it properly. At the same time, retirees were getting COLAS... You’re just draining more money out than what you’re putting in.” — Larry (10:57)

Addressing Criticism and Myths About Public Pensions

• “Why Should We Pay?” (13:08–15:30): Larry flips the script—pensions are a fair benefit for hard-working public servants; the real question is why fewer workers have them today.

  “I don’t think you should be asking why I deserve mine. I think the real question is why didn’t you get one yourself? Why didn’t you fight for one?” — Larry (14:10)

• Retaining Good Employees (16:23): Amy and Larry discuss the importance of pensions and stability for recruiting and retaining capable public servants.

Healthcare and Retiree Wellbeing

• Medicare Advantage and Prescriptions (07:02–08:09): While Larry personally has no complaints, he notes not all retirees fare so well. The Affordable Care Act and Inflation Reduction Act have an impact, especially on prescription costs.

Inside the System: Board Elections and Advocacy

• Running for the KERS Board (17:34–19:39): Larry is currently seeking an elected seat representing retirees, moving from “watchdog” to decision-maker.

Advocacy at the State and Federal Level

• Message to Legislators (22:13–23:47): Larry urges the Kentucky legislature to grant the 13th check, reminding them that retirees’ incomes have been frozen for over 15 years.

  “Could you survive on the money you were making in 2011 for 30 more years out to 2049?” — Larry (22:34)

• Federal Perspective (23:47–25:14): Direct federal decisions don’t typically impact public pensions, but do affect healthcare costs. Larry emphasizes the need for representatives to escape political “bubbles.”

  “My representative does not have town hall meetings... He doesn’t come out. And you can’t live in that bubble and truly represent us.” — Larry (24:34)

• Gerrymandering & Campaign Finance (25:14–26:07): Both Amy and Larry express frustration with entrenched incumbents and the outsize influence of money in elections.

  “The people that don’t say, well, the voters ought to be able to vote them out. Well, you can’t.” — Larry (25:26)
  “You get a member of Congress who now has a handshake deal with some billionaire or corporation... and that happens.” — Amy (25:40)

Notable Quotes & Memorable Moments

• “If I had been told it was all on me in 1975, then I probably would have not paid any attention until about 1990. But then it would have been mine.” – Larry (14:37)
• On activism:
  Amy: “You’ve got somebody here who knows the system, wants to be your advocate, and is, you know, somebody who’s going to fight for you.” (19:39)
• On Political Engagement:
  Larry: “Pay attention and don’t give up. Things will be better.” (20:47)
• On Recent Union Slogans:
  Larry: “The new slogan is Stand up and fight back. And so I think that is a very valid... a very valid thing right now.” (21:21)
• On Retiree Hardship:
  Larry: “My retirees, their pension benefits are static and just to be good point, that ain’t good.” (23:47)

Highlighted Timestamps

• 01:44 – Larry describes his start at the parks and journey to deputy commissioner
• 05:31 – Details on inflation’s impact: “For a dollar in July 2011, you now need $1.43 as of November.”
• 08:44 – Clarity on the 13th check campaign, how it works, and why it’s needed
• 09:55 – Explanation of pension funding and liabilities for lay listeners
• 13:08–14:10 – Larry’s passionate defense of public pensions and call to action for all workers
• 20:47 – Larry’s succinct advice for all retirees and voters: “Pay attention and don’t give up.”
• 22:34 – Posing a challenge to legislators: “Could you survive on your 2011 salary today?”
• 25:26–25:40 – Exasperation at the difficulty of ousting entrenched politicians due to systemic issues

Tone & Takeaways

The tone is frank, passionate, and at times wryly humorous—emphasizing both the pride in serving the public and the frustration of retirees squeezed by political inaction and economic change. The episode is both an educational primer on pensions and a grassroots call for vigilance, advocacy, and optimism.

Key Message: Public sector retirees devoted careers to essential state functions. Their pensions—once bulletproof—are threatened by years of fiscal neglect and rising costs. Larry Totten urges legislators and the public alike to “pay attention and don’t give up,” advocating both practical fixes (like the 13th check) and broader political accountability.