Senate President Stivers expects a pension bill as early as Thursday of this week

02/13/2018 05:21 PM

FRANKFORT – Senate President Robert Stivers, R-Manchester says there’s a good chance a pension reform bill will be introduced in either the House or Senate as early as Thursday of this week.

Wednesday will mark day 30 of the 60-day session with many wondering if and when a pension bill would be crafted.

Stivers says while it was impossible for him to explain all of the nuances bill, there is one big piece of the puzzle where there will be no change.

“The biggest thing that I want to say that most people want to know that are current employees, if you’re in a defined benefit system, you’re going to continue to be in a defined benefit system,” Stivers said. “But, to try to go through all of the nuances and things of that nature, you’d have to distinguish between CERS, KERS, KTRS, respective tiers, when you were hired, different types of benefit level, so it would take a long time, but overall, i think it’s a fair piece of legislation.”

Stiver emphasized that there was one big consideration in coming up with a workable plan.

“What impact is it going to have on the current funding levels of the systems that are currently in place,” Stivers said. “Just know what impact a shift or a change in the systems will have in the actuarial analysis and their viability.”

Stivers had said along that he expected a bill this session, advising everyone to just be patient with the process.


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