Kentucky Senate Bill 168 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 14 2013 - 25% progression, died in committee
Action: 2013-02-19 - to State & Local Government (S)
Pending: Senate State & Local Government Committee
Text: Latest bill text (Draft #1) [MS Word]

Create a new section of KRS 161.220 to 161.716 to allow an employer participating in the Kentucky Teachers' Retirement System to discontinue participation in the system for new hires provided the employer pays to have an actuarial cost study completed to determine the cost to the system for the loss of new employees, the employer offers an alternative retirement plan, and the employer enters into an irrevocable contract to pay the system for the actuarial cost over a period not to exceed 30 years; amend KRS 61.520 and 78.535 to allow an employer participating in the Kentucky Employees Retirement System and the County Employees Retirement System to discontinue participation in the system for new hires provided the employer pays to have an actuarial cost study completed to determine the cost to the system for the loss of new employees, the employer offers an alternative retirement plan, and the employer enters into an irrevocable contract to pay the system for the actuarial cost over a period not to exceed 30 years; amend KRS 61.525, 61.543, 61.560, 78.530, 78.540, 78.610, 78.615, 95.520, 95.621, and 95.852 to conform.

AN ACT relating to retirement.

Sen. Christian McDaniel [R]

Date	Chamber	Action
2013-02-19	Senate	to State & Local Government (S)
2013-02-14	Senate	introduced in Senate

Type	Source
Summary	http://www.lrc.ky.gov/record/13RS/SB168.htm
Text	http://www.lrc.ky.gov/record/13RS/SB168/bill.doc
Supplement	http://www.lrc.ky.gov/record/13RS/SB168/LM.doc