Pension Fix

Local/Regional News
12:40 pm
Fri February 22, 2013

Tax On Lottery Sales Considered As Ky. Pension Fix

FRANKFORT, Ky. -- Lawmakers are looking to the lottery for a source of revenue to shore up Kentucky's financially troubled pension system for government retirees.

Rep. Brent Yonts, chairman of the House State Government Committee that oversees pensions, said Friday the latest proposal would institute a 6 percent sales tax on lottery ticket sales and implement new games, which could include Keno.

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Local/Regional News
7:24 pm
Tue February 12, 2013

Cigarette Tax Eyed As A Way To Rescue Pension System

FRANKFORT, Ky. -- A leading lawmaker says raising the cigarette tax to $1 a pack would generate about $100 million a year that could be used to shore up the pension system for government retirees.

House Speaker Greg Stumbo told reporters Tuesday that that's one of several options House lawmakers are considering to bolster the pension system, which has a $33 billion unfunded liability.

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