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Fri November 23, 2012
Stumbo Wants State Employees with Fat Pensions to Pay More
Kentucky Democratic House Speaker Greg Stumbo says he thinks state employees with bigger pensions should pay more to help underfunded state pension systems recover. Stumbo says that plan is preferable to issuing bonds to fund pensions. He blames pension managers' bad investments for the current problems and says fund managers don't need bond money to continue their work. Kentucky lawmakers will be able to use a report from a bipartisan task force that looked into pension reform as a guide when the legislature reconvenes in January.