Potential Legislation for local control

Local/Regional News
1:52 pm
Thu November 29, 2012

Mayor Gray Tells Lawmakers City May Seek Legislative Remedy To Pension Problem

FRANKFORT, Ky. - Lexington Mayor Jim Gray says the city may introduce legislation in the General Assembly to wrest control of its troubled police and fire pension fund away from state lawmakers. 

Lexington is the only city in Kentucky where police and firefighters are not covered by the state pension system.  The onus is on the city to have one and fund it, but control of the plan rests with the legislature.  Mayor Gray says despite annual contributions, the fund is currently 258 million dollars in the hole.

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