{Frankfort, Kentucky}...The debate over legislative pensions has become more heated in Frankfort because of an ever-growing deficit that, by some estimates, could be as much as $30 billion in retirement plans covering lawmakers, teachers, judges and state and local government workers. Republican state Representative David Floyd, R-Bardstown, has drafted a bill that contains the opt-out provision for incumbent lawmakers while ending pensions for all future lawmakers. Floyd says Kentucky lawmakers work only part time and, therefore, shouldn't be eligible to participate in the state's financially troubled retirement system. A legislative task force that has been exploring potential ways to cover Kentucky's public pension shortfall will explore the idea of borrowing enough money through the sale of government bonds to resolve the crisis. The group is expected to review that option in a meeting later this month.
