KY SB10 | 2019 | Regular Session
Status
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]
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]
Summary
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.
Title
AN ACT relating to agency cessation of participation in the Kentucky Retirement Systems and declaring an emergency.
Sponsors
History
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 |
Subjects
Actuarial Analysis
Effective Dates, Emergency
Local Mandate
Public Officers and Employees
Retirement and Pensions
State Agencies
Effective Dates, Emergency
Local Mandate
Public Officers and Employees
Retirement and Pensions
State Agencies