Kentucky Senate Bill 10 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-02-25 - returned to State & Local Government (S)
Pending: Senate State & Local Government Committee
Text: Latest bill text (Introduced) [PDF]

Amend KRS 61.522 to allow universities, community colleges, and health departments to cease participating in the Kentucky Employees Retirement System provided the agency pays the cost of ceasing participation as provided by statute; provide a window where quasi-state agencies who are eligible to cease participating in the Kentucky Employees Retirement System or non-stock non-profit agencies eligible to cease participating in the County Employees Retirement System (CERS) may by December 31, 2019, cease participating by paying the actuarial costs of ceasing participation and pay off the cost through equal installments that incresae over time by 1.5% annually with interest charged to the principal balance of the greater of 1.5% or the annual average change in the CPI-U until all costs are paid off; amend KRS 18A.225 to provide that employers ceasing participation in the window may still participate in the Kentucky Employees Health Plan (KEHP) for their employees; EMERGENCY.

AN ACT relating to agency cessation of participation in the Kentucky Retirement Systems and declaring an emergency.

Sen. Christian McDaniel [R]

Date	Chamber	Action
2019-02-25	Senate	returned to State & Local Government (S)
2019-02-25	Senate	2nd reading
2019-02-25	Senate	taken from State & Local Government (S)
2019-02-22	Senate	returned to State & Local Government (S)
2019-02-22	Senate	1st reading
2019-02-22	Senate	taken from State & Local Government (S)
2019-02-19	Senate	to State & Local Government (S)
2019-02-15	Senate	introduced in Senate

Type	Source
Summary	https://apps.legislature.ky.gov/record/19RS/sb10.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/19RS/sb10/orig_bill.pdf
Supplement	https://apps.legislature.ky.gov/recorddocuments/note/19RS/sb10/LM.pdf