Bill to bring transparency to legislative pensions passes Senate committee

The Senate State and Local Government Committee passed a bill that would make former and current legislators’ retirement benefits information subject to open records requests with unanimous support Wednesday.

Senate Bill 3, 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, which passed unanimously Wednesday, was amended with an emergency clause which would allow the bill to take effect immediately if passed through both legislative chambers.

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 3 now heads to the Senate floor where it is expected to move quickly through the legislative process.

Categories: Pensions

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