Gov. Matt Bevin has released a much-anticipated draft of a bill that would make massive changes to the state’s pension systems, which are facing critical financial problems. The 505-page proposal was crafted with Republican leaders of the state legislature and aligns with a summary of recommended changes Bevin presented a little more than a week ago. If implemented, over the coming decades the plan would mostly phase out the state’s use of a pension system that guarantees benefits to state retirees for life.
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