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Rudy: Bevin's Plan Doesn't Have Support to Pass

Rudy: Bevin's Plan Doesn't Have Support to Pass
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By Tim Brockwell
Nov. 15, 2017 | PADUCAH, KY
By Tim Brockwell Nov. 15, 2017 | 01:14 PM | PADUCAH, KY
Republican State Representative Steven Rudy says that while he doesn't think Governor Matt Bevin's plan to shore up Kentucky's ailing pension system has the votes it needs to pass in Frankfort, he is willing to work with state leaders to come up with a solution that has wider support.   

Bevin's proposal would move most state employees over to a 401(k)-style system, and would freeze benefits for current workers once they reach their 27th year on the job. Many public employees, as well as other state leaders have voiced opposition to the proposed plan in its current form. Most seem to agree however that some kind of change is required to keep the system solvent.

Rudy told West Kentucky Star in an interview on Wednesday that he shares the skepticism expressed by other leaders about the current proposal, but he said he is willing to work to help reach a consensus on a more acceptable plan.

"I think that there's gonna have to be some changes made to it to be able to get the votes to pass it," Rudy said. "I certainly will work towards fixing the problem, but I don't think the votes are there to pass the bill as it is. I'm willing to work with all parties interested, and the administration to try to get us something that can pass and start fixing the problem with pensions."

A recently released analysis of Bevin's plan shows it would cost taxpayers an extra $4.4 billion over the next 20 years. That analysis assumes teachers would retire in greater numbers and the state would earn an average of 6 percent on its investments. Bevin has since challenged the validity of that study, saying he doesn't agree with those assumptions.

Rudy said he has heard from a lot of constituents who have concerns about many aspects of Bevin's proposal, but most acknowledge that something has to be done to fix the system.

"I've heard from a lot of people with a lot of concerns, but most people realize there is a problem. I have found that most people appreciate the fact that we're now talking about the problem and not continuing to kick the can down the road." Rudy said.

Bevin has said that he intends to call a special session in Frankfort before year's end so lawmakers can consider his plan.
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