FRANKFORT, Ky. (AP) — The Latest on Kentucky bill to overhaul one of nation’s worst-funded pension systems (all times local):
The House-passed bill to overhaul Kentucky’s pension system is now before the Senate for debate in a late-night session at the state Capitol.
The measure would seek to preserve most benefits for public employees. Retired teachers, who are not eligible for Social Security benefits, would still get a raise of 1.5 percent each year. And it would not change how long current teachers must work before being eligible for full retirement benefits.
Republican Senate President Robert Stivers says the Senate is expected to vote on the bill later in the night and likely pass and send it to GOP Gov. Matt Bevin for his consideration. Says Stivers: “I would assume that we will accept it as is.”
The Kentucky House of Representatives has passed a bill to overhaul one of the nation’s worst-funded pension systems despite loud protests from public school teachers.
The House voted 49-46 to approve a bill that re-emerged suddenly Thursday afternoon. Eleven Republicans joined 35 Democrats in opposing the measure.
The bill preserves most benefits for current public employees. Teachers would still get a raise of 1.5 percent each year. And it wouldn’t change how long current teachers must work before being eligible for full retirement benefits.
The Senate began debating the bill Thursday evening, and an expected decision to pass it would send it to Republican Gov. Matt Bevin’s desk.
Thousands of teachers have protested in recent weeks, threatening lawsuits and a strike if the bill passes.