Tagged: kentucky state pensions

Kentucky House and Senate leaders have changed the schedule of this year's legislative session to avoid a special session.

A potential—and costly—special session has loomed over the General Assembly in recent days, as lawmakers continued work on pension reform. Instead of convening Friday, lawmakers will work on Tuesday, with hopes that talks started Thursday night could lead to an agreement on pension reform by then.

House Speaker Greg Stumbo says those talks have included the Governor and Senate leaders. 

FRANKFORT — Arguments over how to reform and pay for Kentucky's underfunded pension systems have devolved into legislative chaos.

Both the Kentucky House and the Senate are refusing bills addressing pensions, citing legal or procedural reasons. And leading legislators are blaming each other. 

The 2013 session has eight working days remaining, but doesn't officially close until March 26 to allow time for vetoes and overrides.

House Speaker Greg Stumbo says the Senate's actions are killing the issue.

 A House bill aiming to help generate revenues for the underfunded pension system is in legal limbo as the Senate refused to accept the bill.

House Bill 416 takes revenues from expansion of Instant Racing and online lottery sales and the start of a Keno game to generate close to $100 million a year to pay into state's currently underfunded pensions for state employees.

The House has narrowly passed two bills dealing with the state's underfunded pension system, but not without controversy.

The House passed an amended  version of Senate Bill 2, which keeps the pension systems as a defined benefit and creates a new oversight panel for Kentucky's many pension plans. It passed on party lines 55-45, with Democrats favoring.