By AP
Frankfort, KY – A bill that would change the type of pension plan offered to Kentucky state workers hired in the future has won approval from a Senate committee. The plan could come up in the full Senate as early as today. The bill, which would take effect July 1st, 2012, gives new state workers the option of contributing a percentage of their pay toward their retirement. The state would make up to a five percent match for non-hazardous duty workers and eight percent for hazardous duty. In the current pension plan, workers and the state contribute to a fund that is invested. Upon retirement, employees are eligible to receive a set amount each month.