Proposed Bill Would Reform Lexington Police & Fire Pension Fund

(WTVQ-TV, LLC)
(WTVQ-TV, LLC)
Contributor: Christine Winter
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Updated: 2/19/2013 11:53 pm
A Lexington lawmaker has filed a bill to reform Lexington's police and fire pension fund.

Representative Ruth Ann Palumbo says House Bill 430 is based on the agreement already agreed to by the Mayor's Office, the Police and Fire Unions and members of the Pension Board.

It would mean lower cost-of-living adjustments and increased contributions from employees.

The plan cuts the unfunded liability in half.

A majority of firefighters and police, both active duty and retired, voted in support of the plan.
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