KY SB107 | 2019 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 22 2019 - 100% progression
Action: 2019-03-22 - signed by Governor (KY Acts ch. 048)
Text: Latest bill text (Engrossed) [PDF]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 22 2019 - 100% progression
Action: 2019-03-22 - signed by Governor (KY Acts ch. 048)
Text: Latest bill text (Engrossed) [PDF]
Summary
Amend KRS 18A.250 to provide that employees of the executive, legislative, or judicial branches of Kentucky state government hired on or after July 1, 2019, shall be automatically enrolled in the 401(k) voluntary retirement plan with a monthly employee contribution of $30 per month; provide that the employee shall continue to contribute to the plan unless or until the employee makes an election to change the contribution; provide that the Kentucky Public Employees Deferred Compensation Authority board shall have the authority to select default investment options and amend the 401(k) plan as needed to implement automatic enrollment; require the Kentucky Public Employees Deferred Compensation Authority to report to the Public Pension Oversight Board by December 31, 2019, on the development of the automatic enrollment provisions and options to improve participation in the plans.
Title
AN ACT relating to automatic enrollment in the Kentucky Public Employees Deferred Compensation Authority plans.
Sponsors
Roll Calls
2019-03-12 - House - House: Third Reading RCS# 283 (Y: 93 N: 2 NV: 0 Abs: 5) [PASS]
2019-02-20 - Senate - Senate: Third Reading RSN# 825 (Y: 35 N: 0 NV: 0 Abs: 2) [PASS]
2019-02-20 - Senate - Senate: Third Reading RSN# 825 (Y: 35 N: 0 NV: 0 Abs: 2) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-03-22 | Senate | signed by Governor (KY Acts ch. 048) |
2019-03-13 | Senate | delivered to Governor |
2019-03-13 | Senate | enrolled, signed by Speaker of the House |
2019-03-13 | Senate | enrolled, signed by President of the Senate |
2019-03-13 | Senate | received in Senate |
2019-03-12 | House | 3rd reading, passed 93-2 |
2019-03-06 | House | posted for passage in the Regular Orders of the Day for Thursday, March 7, 2019 |
2019-03-01 | House | 2nd reading, to Rules |
2019-02-28 | House | reported favorably, 1st reading, to Calendar |
2019-02-26 | House | posted in committee |
2019-02-22 | House | to State Government (H) |
2019-02-21 | House | received in House |
2019-02-20 | Senate | 3rd reading, passed 35-0 |
2019-02-19 | Senate | posted for passage in the Regular Orders of the Day for Wednesday, February 20, 2019 |
2019-02-14 | Senate | 2nd reading, to Rules |
2019-02-13 | Senate | reported favorably, 1st reading, to Calendar |
2019-02-08 | Senate | to State & Local Government (S) |
2019-02-05 | Senate | introduced in Senate |