Kentucky pension system

Rae Hodge (KPR)

Kentucky legislative leaders say solutions on how to pay for Kentucky’s underfunded pensions won’t likely be addressed in the 2013 legislative session, which began Tuesday.

Both House Speaker Greg Stumbo and Senate President Robert Stivers say there will likely be a bill to introduce changes to the pension systems. But they also agree that such a bill is unlikely to deal how to fund the changes.

What they do disagree on is when to deal with the funding solutions. Stumbo says pension funding should be dealt with in a special session, hand in hand with tax reform.

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Kentucky lawmakers start their legislative session today where they're expected to consider tax reforms and search for ways to shore up the financially troubled pension system for government retirees. A task force appointed by Gov. Steve Beshear has recommended a series of changes to the state tax code that could generate more than $600 million in additional revenue. A separate legislative task force has recommended pumping more money into the pension system, which has a $33 billion unfunded liability.

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A group of GOP House candidates are encouraging one Republican leader to take a bold stance on a pension issue.

Republicans Chris Hightower, Jason Crockett, Lynn Bechler, Bryan Lutz and Matt Lockett are all in competitive races for the state House this election cycle.

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