Senate Leaders Vow Quick Action on Pension Bill

By Associated Press | 

Senate Republican leaders are promising quick action on legislation aimed at shoring up a Kentucky public pension system plagued by a massive unfunded liability.

The bill is expected to be introduced Tuesday, and Senate Majority Floor Leader Damon Thayer says the measure could clear the full Senate by the end of next week.

The measure would then head to the House with a few weeks left in the 2013 General Assembly session.

Top Senate Republicans attended a news conference Friday by business groups that urged lawmakers to overhaul the pension system, which has an unfunded liability exceeding $30 billion. Business leaders said pension burdens threaten to drain money that could go for education and economic development.

Senate President Robert Stivers say the pension bill will reflect proposals by a legislative task force.

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