Citing under-representation in the current KRS board, the system puts forth legislation to establish its own panel.
In transparency move, proposed bill would also create a new legislative panel to review pension system fees and employee salaries.
Lawmakers assert legalization is a ‘win-win situation for everyone involved,’ and advocate for a quick approval.
Plan aims to eliminate the state retirement system’s $6.6 billion unfunded liability.
Bipartisan legislation aims to protect pensions for 92,000 coal miners.
Bills include provisions for shifting to defined contribution from defined benefit plans.