Senate President Stivers now says don't expect pension bill until next week

02/14/2018 04:17 PM

FRANKFORT – Senate President Robert Stivers, R-Manchester, who yesterday thought a pension bill could be filed as early as Thursday, now says that he doesn’t expect one to surface until at least Tuesday of next week when the General Assembly returns from a 3-day holiday weekend.

Stivers said the delay is due to the process of putting together such a complex, 200-page bill.

“When you reference and you put in bills, references to statutes and how they interplay with each other, especially a bill like this, it’s very critical to make sure all of the references are done and they correspond to the statute that is being suggested to be revised,” Stivers said. “On a large bill, it’s a very tedious and long process.”

Stivers said another issue is to effectively present a bill which can be explained to other members of the General Assembly as well as the public.

“Once we read it, see it, get it, and make sure it says what it says, that we want to be able to come out and have talking points and explanations so you all will be aware of everything that’s in it, that our members will know everything that’s in it,” Stivers said.

The Senate president says one significant change will be the requirement that new employees would enroll in a 401 (k) style plan.

The big reason for the change was that after studying the issue, the savings of switching to a 401 (k) style plan would not realize the savings that were expected.

“When we did the scoring on it, it didn’t score very well in the overall concept of dollars needed to maintain a system that is currently in place, and to fund the system that you are going to put in place,” Stivers said.

Stivers said that new employees and teachers will a choice of several different types of retirement plans.

While there is some speculation and concern that a potential pension bill doesn’t have the House votes to pass, the Manchester Republican is one who believes that when a bill is finally filed, the votes will be there.

“Conceptually, I think the votes are there,” Stivers said. “I would even think that conceptually, several Democrats, if they spoke freely and truthfully, would say we have to do this.”


Subscribe to email updates.

Subscribe and get the latest political intelligence delivered to your inbox.