Pension bill advancing as scheduled during special session - WDRB 41 Louisville News

Pension bill advancing as scheduled during special session

Kentucky lawmakers have wrapped up their second day of a special session dealing with a proposal to shore up the state's financially shaky state retirement system.

Tuesday marked the pension bill's second legislative reading, and House legislators are looking to pass it on Wednesday.

A bill must be considered on three days in both the House and Senate before it can become law. It is moving along on schedule.

Lawmakers want to pass the bill through both chambers and have it to Gov. Steve Beshear by Friday.

Kentucky's retirement system is facing a more than $26 billion unfunded liability, and lawmakers have said it could face financial collapse if left ignored. The system handles retirement benefits for about 435,000 people.

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