KY House passes retirement overhaul; measure moves to Senate - WDRB 41 Louisville News

KY House passes retirement overhaul; measure moves to Senate

The Kentucky House has approved legislation intended to keep the state's public employee retirement system financially solvent.

The measure passed 98-0.

Lawmakers convened a special session of the General Assembly earlier this week on Gov. Steve Beshear's orders. Legislative leaders say they're looking to give the pension legislation final passage by Friday and send it to Beshear for his signature.

About 435,000 people are covered by the state retirement system which, lawmakers say, is facing eventual financial collapse if left ignored. The system has an unfunded liability of more than $26 billion.

The measure now heads to the Senate for consideration.

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