Amid teacher protests, Kentucky governor signs pension bill - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Amid teacher protests, Kentucky governor signs pension bill

Kentucky's Republican governor has signed a bill into law that makes changes to the state's troubled public pension systems (Source: KFVS) Kentucky's Republican governor has signed a bill into law that makes changes to the state's troubled public pension systems (Source: KFVS)

FRANKFORT, Ky. (KFVS/AP) - Kentucky's Republican governor has signed a bill into law that makes changes to the state's troubled public pension systems over the loud objections of the state's teachers.

Matt Bevin told WHAS-AM he signed the bill on Tuesday. It preserves most benefits for current and retired workers but will move new hires into a hybrid plan that puts less risk on the state.

Bevin said the bill is not what it could have been but said there is nothing in it that is bad for Kentucky.

Teachers have opposed the bill. They were angry that lawmakers rushed to pass it near the end of the legislative session without revealing the bill publicly.

The Kentucky Education Association has been leading the protests. Bevin called their leadership "absolute frauds."

“The other Democratic House members and I are deeply troubled by the signing of Senate Bill 151," House Democratic Leader Rocky Adkins said.  "This piece of legislation – written in secret and passed in less than nine hours – negatively impacts the retirement systems for teachers and public employees and is certain to be thrown out in court.  This law will also cost those very same taxpayers billions of dollars more over the next 30 years by resetting the timeframe to pay off the state retirement systems’ liabilities.  I cannot think of another law that will cost us more and provide us less than this one.” 

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Copyright 2018 KFVS. All rights reserved. The Associated Press contributed to this report. 

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