KY Senate Passes Pension Reform
By: Michael C. Fehn
Updated: February 8, 2013
Kentucky Senators have already passed a big piece of legislation, one that would reform the pension system for state and local government retirees.
The proposal would create a retirement plan for new employees, and eliminate cost-of-living increases for retirees already drawing benefits.
Right now, the pension system has a 33-billion-dollar unfunded liability.
This bill now goes to the house for consideration.
The proposal would create a retirement plan for new employees, and eliminate cost-of-living increases for retirees already drawing benefits.
Right now, the pension system has a 33-billion-dollar unfunded liability.
This bill now goes to the house for consideration.
