Kentucky Governor Signs Pension-Relief Measure

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FRANKFORT, Ky. (AP) – Kentucky Gov. Matt Bevin has signed into law a pension bill aimed at relieving regional universities and community social services agencies from crushing retirement costs.

The signing ceremony on Wednesday came a couple of hours after the bill won final passage in the Senate. Bevin was joined by lawmakers and stakeholder groups at the signing.

The Republican governor called lawmakers into a special session last Friday to take up his pension proposal. The bill – reflecting Bevin’s plan – narrowly passed the GOP-led House on Monday and won overwhelming support in the Republican-dominated Senate.

The bill aims to relieve regional universities and quasi-governmental entities from massive increases in pension costs.