Kentucky Governor Signs Pension Relief Measure
Kentucky Gov. Matt Bevin has signed into law a pension bill aimed at relieving regional universities and community social services agencies from crushing retirement costs.
The signing ceremony on Wednesday came a couple of hours after the bill won final passage in the Senate. Bevin was joined by lawmakers and stakeholder groups at the signing.
The Republican governor called lawmakers into a special session last Friday to take up his pension proposal. The bill — reflecting Bevin's plan — narrowly passed the GOP-led House on Monday and won overwhelming support in the Republican-dominated Senate.
The bill aims to relieve regional universities and quasi-governmental entities from massive increases in pension costs.