FRANKFORT, Ky. (AP) - FRANKFORT, Ky. (AP) - A bill cutting benefits for retired public school teachers has cleared a key hurdle in the Kentucky legislature despite protests from educators chanting "vote them out!"
The Senate State and Local Government Committee voted 7-4 to approve Senate Bill 1. The bill cuts annual cost-of-living raises for retired teachers to 1 percent from 1.5 percent. Republican Sen. Joe Bowen, who sponsored the bill, said it would save the state about $3.2 billion over the next 20 years.
The bill now heads to the Senate floor for a vote. If it passes, it would then need to be approved by the state House before it becomes law.
Committee room filling up with an hour before meeting is scheduled to start. Folks already taking seats in overflow room. Senate committee is expected to hear & maybe vote on Pension Reform Bill #kyga18 pic.twitter.com/CK75kC0eeZ— Hillary Thornton (@HillaryWKYT) March 7, 2018
Senate President Robert Stivers on hand for committee meeting considering pension reform bill. President Stivers making comments on the bill through angered shouts from the crowd #kyga18 pic.twitter.com/bcBnCNrzFE— Hillary Thornton (@HillaryWKYT) March 7, 2018
Governor Matt Bevin was asked today about a Senate committee passing the Pension Reform Bill & the fact that many teachers remain upset. He says the work being done is actually making sure that they will have a pension.https://t.co/MuAXgsGDce pic.twitter.com/mJ3irUIj0G— Hillary Thornton (@HillaryWKYT) March 7, 2018
Kentucky has one of the worst-funded pension systems in the country. The state is at least $41 billion short of the money needed to pay benefits over the next 30 years. Republican lawmakers say that's why they need to pass the bill. But teachers and other public employees say lawmakers should find new funding instead of relying on benefit cuts.
(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
3/7/2018 1:05:16 PM (GMT -5:00)