Lexington’s repair plan for its police and fire pension fund faces one more vote in the General Assembly. The bill, already approved by the House, won committee approval today and soon goes before the full Senate. Scott County Senator Damon Thayer, who’s working to fix the state’s pension systems, calls Lexington’s proposal inadequate.
“I’m disappointed that the city is choosing to move forward with a defined benefit plan for future employees causing philosophically I am opposed to a defined benefit going forward because I think it’s unsustainable. And I think you’re going to be back before the legislature in the very near future,” said Thayer.
Senators also heard from retired police officer John Roberts. Roberts argues the fix, which was endorsed by Lexington’s labor leaders, fails to provide promised cost-of- living pay increases.
“If it passes in its present form and the governor signs it, then we have no choice but to take it to court,” said Roberts.
Lexington’s mayor says the fix shares the burden equally. And an aide, who was heavily involved in the city’s negotiations with police and fire unions, says the deal is constitutional. The House approved bill now goes to the full Senate.