Lawmakers Pass Halfway Mark in Legislative Session
FRANKFORT, KY - Kentucky lawmakers have passed the halfway point in the current legislative session without a deal in sight to shore up the financially troubled pension system for government retirees.
They have only 14 working days remaining before adjourning for the year. However, Gov. Steve Beshear has said he may call lawmakers back into special session if they adjourn without taking action to bolster the pension system, which has a $33 billion unfunded liability.
The Senate passed a measure earlier this month that requires the state to fully fund the pension system but that did not specify where the money would come from.
The House is considering a variety of options to pay the state's contribution, including raising the cigarette tax to $1 a pack to generate about $100 million a year.