Pension Reform Talks Produce Tentative Deal

by Rick Howlett on June 9, 2008

From Kentucky Public Radio’s Tony McVeigh:

Kentucky House and Senate leaders have tentatively agreed on a plan to reform the state’s pension system.   A final agreement could come Tuesday.

Governor Steve Beshear wants to call a special session this month to overhaul the state’s financially troubled pension system, but only if House and Senate leaders can agree on needed reforms. After two full days of closed-door negotiations, it appears that has occurred.

“I personally learned a lot in this whole discussion and I expect everyone has,” said House Speaker Jody Richards. “It’s a very, very complicated issue.”

Richards is withholding details of the plan until House members have looked at it. Senate President David Williams isn’t offering specifics either, but believes the recommendation “should be acceptable to everyone in the legislature.” If that turns out to be the case, Governor Beshear will be notified in Japan, where he’s courting state business prospects.

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