Wednesday, February 27, 2008
Pension Bill Passes Committee Moves To Kentucky House Floor.
Legislation aimed at reforming Kentucky's public employee retirement systems to protect future state retiree benefits and shore up funding for retiree health insurance passed the House State Government Committee today.
House Bill 600, sponsored by committee chairman Rep. Mike Cherry, D-Princeton, was unveiled by Gov. Steve Beshear last week as a solution to the state's current inability to pay $20 billion in future retirement benefits to Kentucky's public employees. It includes several proposed changes to the state's retirement systems for state and county employees, teachers and classified school employees, including extending the years of service future state employees must work before they could retire and lowering the cost of living raises--or COLAs--state employees receive.
HB 600 now goes to the full House for its consideration.
House Bill 600, sponsored by committee chairman Rep. Mike Cherry, D-Princeton, was unveiled by Gov. Steve Beshear last week as a solution to the state's current inability to pay $20 billion in future retirement benefits to Kentucky's public employees. It includes several proposed changes to the state's retirement systems for state and county employees, teachers and classified school employees, including extending the years of service future state employees must work before they could retire and lowering the cost of living raises--or COLAs--state employees receive.
HB 600 now goes to the full House for its consideration.
# posted by Joe Kinzer @ 2:41 PM 
