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Ky. Senate passes bill to allow lawmakers to opt out of 'supersized' pensions
Reported by: Associated Press
Reported: Thursday, January 23, 2014 3:59 PM EST
The Kentucky Senate has voted to rein in a state law that allows legislative pensions to be "supersized."
Sen. Chris McDaniel says changing the provision is the "right thing" to do.
McDaniel says the bill would allow lawmakers to make a one-time, irrevocable decision to have their legislative pensions calculated solely on their legislative salaries.
That would prevent their pensions from getting a big boost when they take plum government jobs.
He says the bill could eventually save the state about $6 million.
The bill now heads to the House.
The legislation is Senate Bill 4.