Senate OKs Change To Legislative Pension Provision
The Kentucky Senate has voted to rein in a state law that allows legislative pensions to be "supersized."
The bill cleared the Senate on a 38-0 vote Thursday. It would allow lawmakers to opt out of a provision of a 2005 law that can pad their legislative pensions by taking high-paying judicial or executive branch jobs.
Sen. Chris McDaniel says changing the provision is the "right thing" to do.
McDaniel says the bill would allow lawmakers to make a one-time, irrevocable decision to have their legislative pensions calculated solely on their legislative salaries.
That would prevent their pensions from getting a big boost when they take plum government jobs.
He says the bill could eventually save the state about $6 million.
The bill now heads to the House.