Covering Frankfort

Mar 11, 2013 11:15 AM

Lawmakers Remain At Impasse On How To Fix Pension

FRANKFORT (AP) - Gov. Steve Beshear and legislative leaders still have not broken an impasse on how to go about shoring up the financially troubled pension plans for state and local government retirees.

House Speaker Greg Stumbo said Monday the latest meeting yielded no resolution.

The Democratic-controlled House and Republican-led Senate have been at odds on proposed fixes to the pension system, which has a $33 billion unfunded liability.

The Senate is proposing a 401(k)-like retirement plan for new employees - a move the House opposes. And the House wants to use money from the lottery and horse tracks to boost the state's yearly pension contribution. The Senate is balking at that idea.

Negotiators last met on Sunday.

(Copyright 2013 The Associated Press. All rights reserved.)

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