Local representative helps file different pension plan as another option

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With Senate Bill One being filed a few weeks ago, now the committee considers the potential new pension plan.

One local representative has teamed up several of the K-Groups to create another possible pension plan.

Representative Steve Riley of the 23rd District, also the Vice Chair of the House Education Committee, helped file the "Shared Responsibility Pension Plan on Tuesday.

"I've gotten a lot of feedback, a lot of people have contacted me," said Riley. "They feel that this is a viable option. I've had a lot of members of the house that have indicated to me that they're interested in that, and they think it's something that they could stand behind."

The K Groups include school superintendents and the School Board Association. They were charged with the challenge of coming up with another pension plan. If Senate Bill one does not go through, this could be another pension option ready to be heard.

Riley says there are some similarities with this bill and Senate Bill one, but also some major differences.

For one, it doesn't have a reduction for retired teachers or those who plan to retire in the next few years. It also maintains the defined benefit plan for all teachers. In addition, it separates CERS and KTRS.

To see read the entire bill click here.



 
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