The Kentucky state House ended its legislative session without voting on a bill aimed at alleviating the states $3.6 billion public pension shortfall, confirmed Brian Wilkerson, a spokesman for Speaker of the House Jody Richards. The legislative session is over, so all bills are pretty much dead, Mr. Wilkerson said.
The bill, which had passed the state Senate, would have created a defined contribution plan for new state and county employees, and decreased the states contributions for new employees to the $16 billion Kentucky Retirement Systems, Frankfort. The bill would also have allowed the state to issue $800 million in pension obligation bonds. Although House members had indicated support for the bond issuance, they never voted to approve it, Mr. Wilkerson said.
The bill will either be reintroduced in the next session in January, or the matter will be resolved in a special session convened by Gov. Ernie Fletcher, said Lourdes Baez-Schrader, a spokeswoman at the office of Senate President David Williams. No decisions about a special session have been made, said Jodi Whitaker, a spokeswoman at the governors office.