FRANKFORT, Ky. (AP) — The Kentucky House has passed a bill to change retirement benefits for new teachers hired starting next year.
GOP lawmakers on Thursday said the measure would relieve some pressure on the state’s troubled public pension plan for teachers but won’t solve its massive unfunded liability. The bill would not affect teachers already enrolled in the retirement system. The bill would mean that teachers hired starting next January would contribute more toward their retirement benefits. Democratic lawmakers complained the measure is being rushed and amounts to a benefit cut.
The measure now heads to the Senate for consideration.