LOUISVILLE, Ky. (WDRB) -- Kentucky Gov. Matt Bevin says he will convene a special session of the Kentucky General Assembly on Friday, July 19, beginning at 8 a.m.
The purpose of the special session is to address the state's public pension crisis.
"Two and one-half months ago, the Governor publicly introduced a proposal to provide immediate fiscal relief to the state's quasi-agencies and provide long-term options that will offer these organizations the ability to continue operations and save critical community services," the news release states. "This bill has been thoroughly vetted and improved with input from legislators. It is the only fiscally responsible plan that provides our regional universities and quasi-governmental agencies with a path to a sustainable future."
But Kentucky Republican Gov. Matt Bevin has struggled to cobble together support for his pension repair proposal that would replace a Republican-approved bill that Bevin vetoed in April.
Last week, Kentucky Democrats unveiled two new state pension repair proposals. Both bills put forth by Democrats would freeze retirement payments that are paid by quasi-governmental agencies and redirect excess retiree health insurance payments for five years to pension liabilities. Democrats say that would be paid back after the five years by higher annual payments to the retiree health insurance fund.
"We have reached out across the aisle to our Republican counterparts and to the governor to share our ideas, and we have communicated with the stakeholders as well," Adkins said. "We believe these plans provide the certainty and stability the agencies absolutely must have."
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