House Committee Overhauls Pension Reform Bill

By Associated Press | 

Revamped legislation intended to shore up the state's pension system for state and local government retirees in Kentucky has cleared a House committee.

The measure removes a Senate provision that would have created a 401(k)-like plan for new hires.

The House State Government Committee voted 17-1 to send the legislation to the full House for consideration. Ten lawmakers passed during the committee vote.

Democratic state Rep. Brent Yonts of Greenville, who unveiled the overhaul of the bill, said a separate measure would provide funding for the pension system. That measure is expected to come up for a vote in the House Appropriations and Revenue Committee later Tuesday.

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