WKYT | Lexington, Kentucky | News

State Senate Committee Passes Pension Legislation

FRANKFORT, Ky. (AP) - A Senate committee has approved a plan to
shore up the state's financially troubled pension system.

The Senate State and Local Government Committee voted 7-0 to
approve the proposal. It now goes to the Senate floor for
consideration.

The Senate is scheduled to meet at 9 a.m. EDT on Friday to vote
on the measure.

The Kentucky House approved the legislation 98-0 on Wednesday
after lengthy private negotiations.

About 435,000 people are covered by the state retirement system
which, lawmakers say, faces eventual financial collapse if left
ignored. The system has an unfunded liability of more than $26
billion.


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