Agreement reached on pensions and projects

UPDATE 12:25 A.M.: The pension bill is dead.

MORE TO COME

Legislative leaders say they've reached a compromise on sweeping change to the state's retirement system, as well as road and water line projects.

The pension bill looks "a lot like our bill" that passed out of the House in March, said House Speaker Jody Richards, D-Bowling Green.

"We have agreed in principle but we haven't seen the bill," he said shortly after 8 p.m. when he emerged from a Senate conference room.

It doesn't include a plan offered by the Senate that would divert some money into a deferred compensation or annuity plan, like a 401(k), for state workers.

The deal also put off a decision about which retirement system — the state, county or school systems’ — should take care of classified county employees, such as school janitors and bus drivers.

Details on spending for road projects, as well as the funding source for $75 million more in water and sewer line construction, weren't available yet.

Meanwhile, another high-profile measure backed by Gov. Steve Beshear -- a plan to reform government ethics -- might not make it by midnight, Richards said.

It's "probably dead" for this session, he said.

- Jack Brammer and Sarah Vos

Comments

[Alex Stall]

While I'm glad our elected officials are accomplishing something in Frankfort, it seems like we need to do a better job at focusing on the important issues. The biggest one that comes to mind in education budget cut-backs.