No pension agreement; Lawmakers will try Tuesday

Key lawmakers are stuck on two major proposed changes to the state’s retirement system, putting in doubt the future of one of Gov. Steve Beshear’s top legislative priorities.

House Democratic negotiators emerged from four hours of closed-door negotiations at 11 p.m. Monday, saying they had exchanged offers with Senate Republicans and might again Tuesday.

One sticking point was over the Senate’s plan to divert some funds to a “defined contribution” system like a 401k as opposed to pension payments to retirees. House leaders oppose the defined contribution approach.

The other stumbling block was how to restructure who is covered by the state and county retirement systems. The House wants to study it.

“There may be a permanent impasse for this session,” said Rep. Mike Cherry, D-Princeton. “But we still left the door open for another meeting in the morning.”

- Ryan Alessi 

Comments

[Mansfield]

I am not surprised. The Ky General Assembly is the most partisan, do nothing group of legislators in the country. It's a joke they cannot fix the pension program. Is it no wonder their pension plan is solvent?????