(Frankfort, KY) - Governor Matt Bevin is getting the pension reform package that he wanted, kind of.
Lawmakers in Frankfort quickly passed a sweeping new law to change the retirement benefits for school teachers and other public employees in the state on Thursday night.
The biggest change moves to-be hired teachers into a hybrid retirement plan that is not as generous as the defined benefit pension that teachers currently receive.
Public school teachers in the state are furious with the new plan. Due to significant teacher absences, schools will be closed on Friday in several districts across the state including Jefferson, Oldham and Fayette Counties.
However, a number of local government leaders say they need pension reforms to stave-off a fiscal crisis in their communities.