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Fri January 24, 2014
KY Senate Approves Legislative Pension Changes
The Kentucky Senate has voted to rein in a state law that allows legislative pensions to be "supersized." The bill cleared the Senate on a 38-0 vote yesterday.
It would allow lawmakers to opt out of a provision of a 2005 law that can pad their legislative pensions by taking high-paying judicial or executive branch jobs.
Senator Chris McDaniel says changing the provision is the "right thing" to do. McDaniel says the bill would allow lawmakers to make a one-time, irrevocable decision to have their legislative pensions calculated solely on their legislative salaries.
That would prevent their pensions from getting a big boost when they take government jobs. The bill now heads to the House.