Fri March 8, 2013
Beshear, Legislative Leaders Meet to Break Impasse on Kentucky Pension Reform
FRANKFORT — Gov. Steve Beshear has concluded a meeting with a bipartisan group of legislative leaders without breaking an impasse on pension reform legislation.
The Democratic-controlled House and Republican-led Senate have been at loggerheads on how to shore up the financially troubled pension plans for state and local government retirees.
House Speaker Greg Stumbo called the Friday morning meeting a first step. He's said everyone involved wants to resolve the issue now to avoid the cost of a special legislative session later.
Among the major sticking points: A Senate proposal to create a 401(k)-like retirement plan for new employees and a House proposal to use money from the lottery and horse tracks to boost the state's yearly pension contribution.
On Thursday, Legislators changed the General Assembly's schedule, choosing to convene on Tuesday instead of today in hopes of avoiding a special session while they tackle the pension issue.