Lawmakers look for common ground on pension issue

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by AP

Associated Press

Posted on March 8, 2013 at 12:01 AM

FRANKFORT, Ky. (AP) — Gov. Steve Beshear will meeting with legislative leaders on Friday morning to try work out a deal on legislation intended to shore up the financially troubled pension system for government retirees.

The meeting is set for 10 a.m. EST.

House and Senate leaders were optimistic Thursday that they could find common ground on pension reforms as they move into the final days of a legislative session.

One of the major sticking points is a Senate proposal to create a 401(k)-like retirement plan for new employees. The House adamantly opposes it.

Beshear has said he intends to call lawmakers back into special session if they can't agree this time around on pensions.

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