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FRANKFORT, Ky. (WKYT) - A funding plan intended to restore solvency to Kentucky's pension plans for government retirees has cleared the House and Senate and now goes to Gov. Steve Beshear to be signed into law.
The measure would provide nearly $100 million a year to make the state's required contribution to the pension plans.
The House voted 82-17 for the proposal and the Senate voted 35-3 for it Tuesday evening, just hours before the end of this year's legislative session.
A separate measure to create a 401(k)-like retirement plan for new employees was approved as a separate measure by the Senate, 32-6, and by the House 70-28.