Review But No Committee Vote On Pension Overhaul

Feb 28, 2018

Retired teachers and other opponents of legislation to overhaul Kentucky's public pension systems have flocked to the state Capitol complex to voice their opposition.  The measure received its first committee hearing Wednesday, but no vote was taken.

Credit Kentucky Chamber of Commerce

Republican Sen. Joe Bowen reviewed proposed changes to the bill during the hearing before the Senate State and Local Government Committee.

One of the biggest changes deals with a cost-of-living raise for retired teachers.

They now get a 1.5 percent raise each year. The original bill would cut that raise to 0.75 percent, but the proposed substitute would give them a 1 percent increase each year until the retirement system is 90 percent funded.

Bowen says the committee will vote once members and stakeholders have time to review the changes. Someone from the audience called out: "We'll be back."