kentucky state pensions

Kentucky General Assembly Passes Pension Bills, Avert Special Session

Kenny Colston — Wed, 27 Mar 2013 00:14:00 +0000

FRANKFORT — Kentucky's legislative leaders have passed two bills to shore up the state's underfunded pension systems, effectively staving off a special session on the issue.

The new plan would reduce a personal tax credit of $20 to $10, generating about $33 million in revenue that would go to General Fund, but lawmakers would use it for pensions. The plan would also use revenue from technical changes in the state's tax code, as well as money from federal tax changes.

Kentucky Lawmakers Considering Plan for Pension Reform, But Compromise Appears Uncertain

Kenny Colston — Tue, 26 Mar 2013 04:07:32 +0000

With only one day left in this year's legislative session, Kentucky House leaders are hopeful they have a deal to up shore up the state's underfunded pension system. But there may not be time to get it through the legislature.

House Democrats' are building support for a proposal that uses technical wrangling of revenue sources to cut some taxes while raising other funds to pay for pension reform. The current proposal would cut the gasoline tax by one cent, resulting in a loss of funds for the state road fund.

Kentucky Lottery Approves Online Sales, New Keno Game

Kenny Colston — Mon, 25 Mar 2013 10:00:00 +0000

The Kentucky Lottery Corporation is moving ahead with a new Keno game and online lottery sales after unanimously approval from its board.

The board approved the new games with the hopes they would generate $85 million a year by 2023.

State Treasurer Todd Hollenbach spearheaded the effort to expand to Keno and online as a way to help generate more revenue for the state.

Governor Beshear: Pension Talks Keep Going, but No Deal Imminent

Kenny Colston — Mon, 18 Mar 2013 19:30:18 +0000

State leaders are still working to find solutions to the Kentucky's troubled pension system—but he's not promising a deal the time the General Assembly regular session ends next week, Gov. Steve Beshear said on Monday.

Kentucky Legislators to Keep Working on Military Voting, Pension Reform After Adjourning Tuesday

Kenny Colston — Wed, 13 Mar 2013 03:16:40 +0000

FRANKFORT — Two priorities of Kentucky lawmakers will spill over to the so-called veto period of the 2013 legislative sessions after the issues could not be resolved by the end of Tuesday.

Legislators were unable to compromise on pension reform and the military electronic voting bill before both legislative chambers adjourned until March 25.

Gov. Steve Beshear: No Deal on Pension Reform In Sight, Special Session Becomes More Likely

Rae Hodge — Tue, 12 Mar 2013 20:52:19 +0000

With no deal and time running out, a special session is becoming more likely for Kentucky lawmakers to reform the underfunded pension programs for state employees, Gov. Steve Beshear said on Tuesday.

It's unlikely that the General Assembly will address pension reform before legislators leave Frankfort after Tuesday for a brief period called the veto break, Beshear said. Legislators have

Beshear, Legislative Leaders Meet to Break Impasse on Kentucky Pension Reform

Associated Press — Fri, 08 Mar 2013 19:07:52 +0000

FRANKFORT — Gov. Steve Beshear has concluded a meeting with a bipartisan group of legislative leaders without breaking an impasse on pension reform legislation.

Kentucky Lawmakers Change Schedule in Hopes of Avoiding Special Session

Kenny Colston — Fri, 08 Mar 2013 05:21:00 +0000

Kentucky House and Senate leaders have changed the schedule of this year's legislative session to avoid a special session.

A potential—and costly—special session has loomed over the General Assembly in recent days, as lawmakers continued work on pension reform. Instead of convening Friday, lawmakers will work on Tuesday, with hopes that talks started Thursday night could lead to an agreement on pension reform by then.

House Speaker Greg Stumbo says those talks have included the Governor and Senate leaders.

Kentucky Pension Bills in 'Legislative Purgatory' as Both Chambers Argue Over Procedure

Kenny Colston — Fri, 01 Mar 2013 16:25:22 +0000

FRANKFORT — Arguments over how to reform and pay for Kentucky's underfunded pension systems have devolved into legislative chaos.

Both the Kentucky House and the Senate are refusing bills addressing pensions, citing legal or procedural reasons. And leading legislators are blaming each other.

The 2013 session has eight working days remaining, but doesn't officially close until March 26 to allow time for vetoes and overrides.

House Speaker Greg Stumbo says the Senate's actions are killing the issue.

Pension Fixes in Limbo As Leaders Argue Over Approaches

Kenny Colston and Rae Hodge — Thu, 28 Feb 2013 23:00:54 +0000

A House bill aiming to help generate revenues for the underfunded pension system is in legal limbo as the Senate refused to accept the bill.

House Bill 416 takes revenues from expansion of Instant Racing and online lottery sales and the start of a Keno game to generate close to $100 million a year to pay into state's currently underfunded pensions for state employees.