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Metro Council will continue to study the proposed $10.8 million settlement payment to KERS

Thursday March 22, 2012

For Immediate Release:
Louisville Metro Council
Contact: Tony Hyatt 574-4137/ 526-3622
               Stephen Haag 574-1204/ 645-1752

The Louisville Metro Council has delayed a vote on a proposed ordinance dealing with the penalty assessed by the Kentucky Employee Retirement System to Metro Government for not paying into the system during the firefighter settlement litigation. The penalty is for $10.8 million.

“There are some very genuine concerns about this proposed ordinance,” says Council President Jim King (D-10). “The taxpayers of Metro Louisville need to be reassured that we are spending this money wisely and we also have some questions that need to be addressed by the Kentucky Employee Retirement System. So it is our hope another week of study will put this Council in a better position to understand the ramifications of passing this ordinance.”

The Budget Committee will hold a special meeting on Tuesday, March 27th to further study the proposed ordinance. The Metro Council will hold a special meeting on Thursday, March 29th to take action on the ordinance.

Sponsor:
Jim King (D) 10