Democratic state Representative Brent Yonts of Greenville could be in line to become the next chairman of the House State Government Committee, a key post with the legislature working to find a way to restore solvency to the pension program for government retirees in Kentucky.
House Speaker Greg Stumbo said he intends to nominate Yonts for the position and that he considers Yonts a front runner.
Lawmakers have been trying to find a way to erase a $33 billion unfunded liability in the pension system. A legislative task force that spent months studying the issue recommended pumping in more money without saying where that money would come from.
A group of Kentucky lawmakers has a new summer assignment: shoring up the state’s failing pension systems. At least two of Kentucky’s six pension plans are at a high risk for failure. And their troubles have been highlighted by Bloomberg, the New York Times and the Pew Center.