FRANKFORT, Ky. (AP) - A lawmaker says he’s following Gov. Matt Bevin’s request to temporarily shelve his bill to let local government pension funds break away from the Kentucky Retirement Systems.
Bevin and Sen. Joe Bowen said Thursday the proposed split will be discussed when lawmakers meet in a special session to deal with Kentucky’s underfunded pension system.
Bevin says the proposed separation potentially has “great merit.” But he says lawmakers should await completion of an audit of KRS.
The bill would allow the County Employees Retirement System to leave KRS.
CERS pension funds cover about 230,000 local government workers and retirees. They’re in better shape financially than pension funds covering state workers and retirees.
Bowen, an Owensboro Republican, says his bill should be part of the “broader conversation” about shoring up pension funds.
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The legislation is Senate Bill 226.
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