Legislative Leaders Say Pensions Will Be Top Legislative Issue

Dec 26, 2012

Credit Courtesy of Commonwealth of Kentucky

The next legislative session begins on January 8, and lawmakers say fixing the state's flailing pension systems will be their top priority.

A legislative task force has suggested several ways to shore up state employee pensions, but passing legislation and paying for it will be tough.

Lawmakers have proposed everything from relying on existing economic growth to raising taxes.

House Speaker Greg Stumbo says he hasn't settled on a solution.

“I think it’s going to require some sort of a dedicated funding source that is set aside just for the payment of those particular benefits," Stumbo said.

Some have proposed legalizing gambling and using the revenues for pensions, but both Stumbo and Senate Majority Floor Leader Damon Thayer say that's unlikely.