Kentucky pension system

12:14 pm
Fri February 15, 2013

House Leaders Considering Instant Racing Legalization to Help Pay for Pensions

Credit iStockPhoto

Kentucky House leaders are considering legalizing Instant Racing across Kentucky to help plug the funding gap in the state's pensions.

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2013 KY General Assembly
7:42 am
Tue February 12, 2013

House Working to Revamp Senate Pension Bill

Pension reform legislation that passed in the Senate last week is undergoing changes in the House. House Speaker Greg Stumbo says he expects some of the proposed changes to be unveiled this week.

The version that cleared the Republican-controlled Senate requires the state to make its full contribution to the pension system but doesn't identify a funding source to do that. Stumbo says the Democratic-led House wants a designated funding source.

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5:37 pm
Sat February 9, 2013

KY Lawmakers Meet With Public to Discuss Pension Problems

Credit John Walker

Lawmakers and citizens met this weekend in Murray State’s Wrather Auditorium to discuss Kentucky’s ongoing pension crises. Cameron Smith of the Alabama Policy Institute gave a presentation explaining Kentucky’s current pension problems while lawmakers answered questions. Smith said it’s important for the state to keep its promises.

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2013 KY General Assembly
5:54 am
Fri February 8, 2013

State Senate Passes Pension Reform Recommendations

The Kentucky Senate has passed a bill that would reform the majority of the state's pension system. Senate Bill 2 contained the recommendations of a legislative task force on the underfunded pension system. It suspends cost of living adjustments and creates a hybrid, 401k-style pension plan for new hires.

Bill sponsor Damon Thayer says the bi-partisan support for the bill shows the need for continued cooperation on pensions.

"This is not a perfect bill. There are certainly other ways that this can be done," Thayer said. "But in this town and in this building, when have we ever given up the good for the sake of the perfect. This is a good bill, Mr. President."

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7:27 am
Tue February 5, 2013

Lawmakers Return to Frankfort for Round Two

Credit Wikimedia Commons

State lawmakers return to Frankfort today to take on some of the Commonwealth's most pressing issues, including finding a way to shore up the financially troubled pension plan for government retirees. The Legislature met for a week in early January to elect House and Senate leaders, then took a three-week break.

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2:13 pm
Thu January 10, 2013

Coalition Rallies Against Big Changes to Kentucky Public Pensions

Current Kentucky state employees and retirees packed the Capitol Rotunda to encourage lawmakers to rethink some proposals made by a task force on public pensions last year.

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6:49 am
Wed January 9, 2013

Stumbo, Stivers Agree That Pension Funding Will Likely Wait, Again

Credit 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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7:20 am
Tue January 8, 2013

KY Lawmakers Prepare for Start of Legislative Session

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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4:23 pm
Thu October 18, 2012

A Handful of GOP House Candidates Ask David Williams To Not Use Pension Loophole

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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