Kentucky governor says pension announcement coming soon
FRANKFORT, Ky. (AP) – Kentucky’s Republican governor says he is close to calling state lawmakers back into session so they can make changes to one of the country’s worst-funded public pension systems.
Gov. Matt Bevin told reporters Tuesday an agreement with state lawmakers just needs “a bit of I-dotting and T-crossing.” Bevin and leaders of the state House and Senate have been crafting a proposal in private for months.
Republican leaders say they have agreed on how to change the state’s struggling public pension system.
Gov. Matt Bevin, state House Speaker Jeff Hoover and Senate President Robert Stivers will announce the plan Wednesday at 9 a.m. in the state Capitol. All are Republicans.
State officials are at least $33 billion short of the money needed to pay retirement benefits over the next 30 years. But talk of changing the system has prompted a wave of retirements as state workers are fearful of how the changes could impact them.
Republican state Rep. Bam Carney is a public school teacher. He said the proposal meets all “legal and moral” responsibilities.