Senate Passes Bill To Shut Down Legislative Pension System
Legislative pension reform is progressing through the Kentucky General Assembly. Senate Bill 7 would keep new legislators from participating in the Kentucky Employees Retirement System. It is aimed at preventing the addition of new burdens to Kentucky's pension system, despite the fact that legislator's pensions are generally well-funded.
Senate President Robert Stivers praised the bipartisan effort in his chamber to solve Kentucky's underfunded pension problem.
"So when people criticize us, members of the senate, Republican or Democrat, that we have done something and not tried to correct it, that's false. That's totally false," he said.
The bill passed out of the Senate on a 37-0 vote. It now moves to the state House.