US. Senate Republicans say pension reform bill will be changed. Crowd says ‘we’ll be back’
Senate Republicans told a vocal crowd Wednesday they will introduce a substitute for the pension reform bill that makes key changes, including curbing a proposed reduction in retired teachers’ cost-of-living adjustments.
Sen. Joe Bowen, R-Owensboro, said the substitute for Senate Bill 1 will preserve many provisions from the measure he filed last week, but not all.
Instead of slashing retired teachers’ annual cost-of-living adjustments in half for 12 years, the substitute would reduce that figure from 1.5 percent to 1 percent until the Teachers’ Retirement System is 90 percent funded, Bowen said. (The initial proposal Gov. Matt Bevin and other Republican leaders offered last October would’ve suspended those adjustment for five years.)
Read More: Courier Journal
