pension reform

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Kentucky lawmakers are once again calling for transparency in the state’s pension agencies, which manage the worst-funded public retirement funds in the nation.

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Kentucky's Speaker of the House Greg Stumbo has called a meeting of all state representatives to discuss the beleaguered public pension system. 

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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.

Photo by Bud Craft, courtesy Ky Legislative Research Commission.

The state pension system would not transition to a hybrid 401K-style plan in an amended version of the pension reform bill.

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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.

Pension reform, updating liquor laws, expanded gaming, a state-wide smoking ban and legalizing the production of industrial hemp are just a few issues Kentucky Public Radio Capitol Bureau Chief Kenny Colston thinks will be on the agenda for this year's legislative session in Frankfort. Colston speaks with Chad Lampe about the details surrounding some of those issues and who will fill  retiring Sen. Ken Winters's (R-Murray) seat on the senate education committee. Plus, hear if there are any hard feeling between  Sen. Bob Leeper (I-Paducah) and Senate President-elect Robert Stivers (R-Manchester) after his failed attempt at seeking the top post in the Senate.

Kentucky's state pension plans have problems, and a bipartisan legislative task force has approved sweeping recommendations to overhaul them -- including putting new employees in a hybrid plans akin to 401Ks.

The task force -- with an 11-1 vote -- is recommending that the General Assembly start fully funding their pension contributions starting with the next budget in 2014. Lawmaker's’ inability to do that is part of the pension plans problems.

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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.

After being heavily criticized for their use, Kentucky’s major pension program says it hasn't used a placement agent for three years.

Placement agents are investing middle men that direct pension funds to investment opportunities. Kentucky has not had a good track record with placement agents, who have been accused of mismanaging millions for the pension funds according to a 2011 audit.

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Governor Steve Beshear says he's interested in a so-called hybrid approach to pension reform.

Lawmakers are discussing how to fix the flailing public pension plans for state and county employees. They'll make recommendations at the end of the year.