Senate revives change to state's pension plan

FRANKFORT, Ky. (AP) - Republicans in the Kentucky Senate have
made a late attempt to revive their stalled plan to deal with
financial problems plaguing public pension plans.
The proposal was advanced by Senate Republicans on a 23-12 vote
Thursday night. The proposal calls for newly hired government
workers to be covered under a retirement savings plan rather than
the state's longstanding pension plan.
With just a few days left in the legislative session, majority
Republicans attached those provisions to a House bill. The revamped
measure returns to the Democratic-controlled House, where similar
pension overhaul proposals have floundered.
The revived proposal is identical to a bill passed by the Senate
several weeks ago. Supporters have said the goal is to overcome the
growing liability of the public pension funds. That Senate bill
went nowhere in the House.
The legislation is House Bill 480.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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