Glasgow Daily Times, Glasgow, KY

Local News

September 13, 2012

Kentucky Republican Candidates call for end to legislative pensions

FRANKFORT — A group of Republican candidates for the state House and Senate and one independent candidate called Wednesday for an end to state legislative pensions funded by the state.

Brian Linder, the Republican candidate for the 61st House seat held by the retiring Royce Adams and who is opposed by Democrat Wand Crupper Hammons, said the change would affect only newly elected lawmakers.

Veteran lawmakers could opt out of the current, tax-payer funded pensions and enroll in a 401-K type pension plan. Current legislative pensions are defined benefit plans, funded by tax dollars, and lawmakers who achieve the minimum number of years of service are fully vested.

The legislative pensions have also become controversial because of a lawmaker-approved change which allows lawmakers to count salaries from other state positions in calculating pension payments based on their years of service in the legislature.

State Rep. David Floyd, R-Bardstown, has pre-filed bills to allow current lawmakers to opt out of the current plan while placing new legislators in a defined contribution or 501-K type plan. Another bill pre-filed by Floyd would end legislative pensions. Floyd was not at Wednesday’s press conference.

“When part-time legislators like Greg Stumbo have full-time pensions to the tune of $1.25 million, we have a problem, and it is our responsibility to act,” Linder said. “We believe this action, while a small step, is an important one toward eliminating the most predictable crisis Kentucky has ever faced.”


For the full story, read the Sept. 14 print or e-Edition of the Glasgow Daily Times.

Text Only
Local News
AP Video
Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Raw: Church Tries for Record With Chalk Jesus Raw: Faithful Celebrate Good Friday Worldwide Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Calif. Investigators Re-construct Fatal Bus Cras Mayor Rob Ford Launches Re-election Campaign Appellate Court Hears Okla. Gay Marriage Case
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Seasonal Content