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Ky. Senate Leader Seeking First Step In State Pension Reform

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Stu Johnson
/
WEKU

Majority Floor Leader Damon Thayer holds out hope lawmakers can still address pension reforms for public universities and quasi-state agencies when lawmakers return to Frankfort the end of March.

Previous efforts broke down the last legislative day before the veto period.

The multi-faceted pension measure offers universities the opportunity to break away from the state’s employee retirement system and move workers into a defined contribution plan. 

The elements of the bill pertaining to quasi-state agencies like county health departments and mental health agencies differ.

Thayer said addressing university and separate agency pension problems may help move the needle for teacher pension reforms.

“I’m hoping that it will put pressure on all of the various interest groups as well as the legislature to consider a strong TRS bill that we could get the votes to pass in a special session,” he said.

House Speaker David Osborne has indicated he would not favor coming into special session without a clear consensus on a legislative fix.  Lawmakers return on March 28 for a final day of the current session, but action on teacher’s pensions is not planned.

The multi-faceted pension measure offers universities the opportunity to break away from the state’s employee retirement system and move workers into a defined contribution plan.  The elements of the bill pertaining to quasi-state agencies like county health departments and mental health agencies differ.

© 2019 WEKU

Stu Johnson is a reporter/producer at WEKU in Lexington, Kentucky.
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