Pension Bill Clears Kentucky Senate

by Rick Howlett on June 27, 2008

From Kentucky Public Radio’s Tony McVeigh 

Kentucky lawmakers have met their goal of approving a pension reform bill in one week.

The bill that cleared the House 98-0 on Wednesday, breezed through the Senate Friday by a vote of 35-1. Republican Senator Tom Buford of Nicholasville was the lone opponent.

“I expect under provisions of this bill, by 2025, we will still have an unfunded liability of over 33-billion dollars after what we vote on today. I know it’s been said this is a first step. I don’t know how long it’s going to take us to walk to the moon, but that’s a long trip,” Buford said.

Senate passage of the bill effectively ended the special session, which began Monday. The cost to taxpayers for the five-day session is around $300,000. Governor Beshear will sign the pension bill into law this afternoon.

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