A tax reform panel approved a plan that could generate about $690 million a year in additional revenue largely from retirees by taxing more of their pensions.

The repeals of COL increases are part of an effort to rein in a growing unfunded liability that now exceeds $30 billion, including a 401(k)-style plan for new employees.

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.