Skip to content
NOWCAST WLKY News at 11:00pm
Watch on Demand
Advertisement

Special session for Kentucky pension relief bill will begin this week

Special session for Kentucky pension relief bill will begin this week
JENNIFER: KENTUCKY LAWMAKERS WILL RETURN TO FRANKFORT THIS WEEK FOR A SPECIAL LEGISLATIVE SESSION TO DEAL WITH SURGING PENSION COSTS. IN A PRESS RELEASE THIS AFTERNOON, GOVERNOR MATT BEVIN ANNOUNCED HE WILL CALL THE SPECIAL SESSION TO START ON FRIDAY. LAWMAKERS WILL CONSIDER HIS PROPOSAL TO GIVE RELIEF TO COUNTY HEALTH DEPARTMENTS, REGIONAL UNIVERSITIES, AND OTHER QUASI-GOVERNMENTAL AGENCIES. THOSE AGENCIES’ PENSION BIL INCREASED DRAMATICALLY ON JULY 1, AND THEY WILL BECOME DELINQUENT ON AUGUST TENTH UNLESS THE GENERAL ASSEMBLY TAKES ACTION. THE GOVERNOR’S PLAN WOULD FREEZ PENSION COSTS UNTIL APRIL THEN FORCE THE AGENCIES TO DECIDE WHETHER TO STAY IN THE STATE RETIREMENT SYSTEM. HE CALLS IT THE, QUOTE, ONLY LAST WEEK, DEMOCRATS PROPOSED FREEZING PENSION PAYMENTS FOR AT LEAST ONE YEAR. IN A STATEMENT TODAY, DEMOCRATIC LEADERS SAID, IN PART, "THE HOUSE DEMOCRATS HAVE PUT FORWARD A REASONABLE AND FINANCIALLY SOUND PENSION PROPOSAL. IT PROVIDES MORE CERTAINTY AND STABILITY FOR THE AGENCIES, THEIR EMPLOYEES, THE STA RETI
Advertisement
Special session for Kentucky pension relief bill will begin this week
Kentucky Gov. Matt Bevin announced Monday a special session of the General Assembly to consider for the state's pension bill.Bevin said his team has worked closely with state legislators since the conclusion of the 2019 regular session to set up a special session to save Kentucky's quasi-agencies from the financial stress caused by the state's looming public pension crisis.Those agencies include regional universities, health departments, domestic violence centers and community health centers.Their pension costs increased dramatically on July 1 and will become delinquent on Aug. 10 unless the General Assembly takes action. The governor's plan would freeze pension costs until April, and then force the agencies to decide whether to stay in the state retirement system.Bevin said he will convene the General Assembly in a special session beginning Friday."This bill has been thoroughly vetted and improved with input from legislators. It is the only fiscally responsible plan that provides our regional universities and quasi-governmental agencies with a path to a sustainable future," a statement from Bevin's office said.Democrats proposed freezing pension payments for at least one year.House Democratic leadership released the following statement regarding the special session announcement:"The House Democrats have put forward a reasonable and financially sound pension proposal in BR 11 to help our public health departments, regional universities and other quasi-governmental agencies, and we look forward to presenting our ideas when the special session begins. Our proposal has been vetted by the governor’s chosen actuaries; it’s received positive feedback from those affected; and it provides more certainty and stability for the agencies, their employees, the state retirement system and state government. It would be immoral to pass a bill that does anything less.” House Speaker David Osborne also released a statement:"House Majority Caucus members have devoted more than two months to studying the details of the Governor’s proposal, and gathering feedback from stakeholders. We are ready to act on this bill in order to provide relief to quasi-governmental agencies, regional universities, their employees and the Kentuckians they serve. We remain committed to working towards the ultimate closure of this issue, during this special session and into future sessions. The public pension crisis was not created overnight. It is the result of decades of mismanagement and policies that favored politics over the long-term good of our Commonwealth. It will take a real, long-term commitment to resolving it."WLKY's Mark Vanderhoff met with state lawmakers last week. They said the special session will likely last through Wednesday.It takes five days to give a bill three readings in each chamber, and lawmakers are not allowed to meet on Sundays.

Kentucky Gov. Matt Bevin announced Monday a special session of the General Assembly to consider for the state's pension bill.

Bevin said his team has worked closely with state legislators since the conclusion of the 2019 regular session to set up a special session to save Kentucky's quasi-agencies from the financial stress caused by the state's looming public pension crisis.

Advertisement

Those agencies include regional universities, health departments, domestic violence centers and community health centers.

Their pension costs increased dramatically on July 1 and will become delinquent on Aug. 10 unless the General Assembly takes action. The governor's plan would freeze pension costs until April, and then force the agencies to decide whether to stay in the state retirement system.

Bevin said he will convene the General Assembly in a special session beginning Friday.

"This bill has been thoroughly vetted and improved with input from legislators. It is the only fiscally responsible plan that provides our regional universities and quasi-governmental agencies with a path to a sustainable future," a statement from Bevin's office said.

Democrats proposed freezing pension payments for at least one year.

House Democratic leadership released the following statement regarding the special session announcement:

"The House Democrats have put forward a reasonable and financially sound pension proposal in BR 11 to help our public health departments, regional universities and other quasi-governmental agencies, and we look forward to presenting our ideas when the special session begins. Our proposal has been vetted by the governor’s chosen actuaries; it’s received positive feedback from those affected; and it provides more certainty and stability for the agencies, their employees, the state retirement system and state government. It would be immoral to pass a bill that does anything less.”

House Speaker David Osborne also released a statement:

"House Majority Caucus members have devoted more than two months to studying the details of the Governor’s proposal, and gathering feedback from stakeholders. We are ready to act on this bill in order to provide relief to quasi-governmental agencies, regional universities, their employees and the Kentuckians they serve. We remain committed to working towards the ultimate closure of this issue, during this special session and into future sessions. The public pension crisis was not created overnight. It is the result of decades of mismanagement and policies that favored politics over the long-term good of our Commonwealth. It will take a real, long-term commitment to resolving it."

WLKY's Mark Vanderhoff met with state lawmakers last week. They said the special session will likely last through Wednesday.

It takes five days to give a bill three readings in each chamber, and lawmakers are not allowed to meet on Sundays.