FRANKFORT, Ky. (AP) — State and local government retirees in Kentucky won't get cost-of-living pension increases over the next two years under a budget proposal that could face a House floor vote by midweek.
Some 200,000 retirees had been slated to receive 1.5 percent increases, but House lawmakers, faced with tight finances, are recommending those hikes be suspended.
"It's a difficult budget," said state Rep. Rick Rand, chairman of the House Appropriations and Revenue Committee. "This is just the times we're in."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
