The state legislature continues to search for a way to address the $31 million needed to shore up its pension funds for state workers, and teachers.
For now, the state senate has acted on what’s being called a pension transparency and accountability measure.
Owensboro Senator Joe Bowen explained the bill on the floor Tuesday.
“This bill is about this body, the legislature, to be proactive rather than reactive,” said Bowen.
Bowen says the legislation also covers the judicial retirement system. He says it calls for appointed individuals with specific accounting skills for pension related work. Minority Floor Leader Ray Jones applauded Bowen for his work on the pension oversight bill. “We can’t fix the problems if we keep allowing the systemic flaws or the systemic issues that have plagued the pension system to continue,” Jones said. “We have to stop that.”
The measure, approved unanimously, now heads to the House.?
