Senate passes pension transparency measure
The state Senate passed a bill that would make former and current legislators’ retirement benefits information subject to open records requests with unanimous support Tuesday.
Senate Bill 45, sponsored by state Sen. Chris McDaniel, allows for officials, upon request, to disclose the name and benefit amount, projected or actual, for any current or former lawmaker. The bill passed the Senate State and Local Government Committee last week.
“This is about greater transparency,” McDaniel told the committee. “The public has a right to know this information as they make decisions on who to vote for. This information should not remain shrouded in secrecy.”
The Kentucky Chamber of Commerce has long been concerned about the unfunded liability of the state’s retirement systems and has advocated for a number of changes to improve the systems as well as measures to bring transparency to the pension systems.
Senate Bill 45 now heads to the House.