Rep. Shell Expects Pension Bill in Two-Three Weeks; Likely Reforms to KTRS

Spectrum News – 1/22/2018 (reprinted)

by Nick Storm
Click here to view the full article

FRANKFORT — Majority Floor Leader Jonathan Shell, R-Lancaster, expects leaders from the House and Senate to reach an agreement on a pension reform proposal in the coming weeks.

Currently the House and Senate leaders are making tweaks to the legislation, and continue to await updated scoring and other analysis on the legislation, which could impact thousands of current and retired Kentuckians.

“We have sent a couple of bills to the actuaries, we’ve gotten back some numbers — we saw some positive things, we saw some negative things — but what we want to try and do is to get an actual plan, a positive plan; something that shows that we’re paying down the unfunded liability, but also we’re protecting workers at the same time,” he said.

Shell said leaders are putting “components” found in the 2008 and 2013 pension reforms into the other systems — a signal that the Kentucky Teachers Retirement System could see more focus in the eventual bill.

“The reforms that will happen in KTRS will show somewhat more savings, somewhat more movement than what you will see in KRS, because the reforms already happened,” he said.

Watch the full interview with Shell below.

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