State leaders are still working to find solutions to the Kentucky's troubled pension system—but he's not promising a deal the time the General Assembly regular session ends next week, Gov. Steve Beshear said on Monday.
Mike Cherry has served as a democrat in the state house representative for 14 years. He’s retiring as the chair of the House State Government Committee and, as a former navy captain, the highest ranking military member of the General Assembly. Cherry represents the fourth district which includes Caldwell, Crittenden, Livingston and part of McCracken counties.
A top Illinois Democrat says pension boosts for public employees should require more support in the General Assembly before becoming law. House Speaker Michael Madigan is proposing a constitutional amendment to require a three-fifths vote of the House and Senate for any legislation that increases retirement benefits. A simple majority is required now. The state owes its pension systems $80 billion. The Legislature would have to approve the idea by May 6 to put the question before voters in the November election.
Lawmakers have given final approval to legislation that would make placement agents involved in financial investments for Kentucky's pension program subject to the state's ethics laws. The legislation is an offshoot of a state audit that raised questions about the use of placement agents who advise the state about how to invest retirement funds for teachers and government workers. The House voted 94-0 Thursday for final passage. Democratic Rep.