KY SB239 | 2020 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 24 2020 - 100% progression
Action: 2020-04-24 - signed by Governor (Acts Ch. 121)
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 24 2020 - 100% progression
Action: 2020-04-24 - signed by Governor (Acts Ch. 121)
Text: Latest bill text (Enrolled) [PDF]
Summary
Amend KRS 90.400 and 90.410 to permit the board of trustees of a legacy city pension fund having fewer than twelve active and retired members or beneficiaries to offer those individuals a one-time irrevocable option to convert monthly pension benefits from the fund to monthly annuity benefits from an insurance company for the same amount, require the insurance company to honor any features and options available under the existing plan, and require the board to provide beneficiaries with complete and appropriate disclosures sufficient to make an informed decision; amend 95.290 to permit the board of trustees of a legacy policemen's pension fund or firefighters' pension fund in a city of the first class having fewer than twelve active and retired members or beneficiaries to offer those individuals a one-time irrevocable option to convert monthly pension benefits from the fund to monthly annuity benefits from an insurance company for the same amount, require the insurance company to honor any features and options available under the existing plan, and require the board to provide beneficiaries with complete and appropriate disclosures sufficient to make an informed decision; amend KRS 95.530, 95.622, 95.767, and 95.869, to permit the board of trustees of a local legacy policemen's and firefighters' pension fund having fewer than twelve active and retired members or beneficiaries, to offer those individuals a one-time irrevocable option to convert monthly pension benefits from the fund to monthly annuity benefits from an insurance company for the same amount, require the insurance company to honor any features and options available under the existing plan, and require the board to provide beneficiaries with complete and appropriate disclosures sufficient to make an informed decision; amend KRS 95.620 to conform.
Title
AN ACT relating to local government pension plans.
Sponsors
Sen. Mike Wilson [R] |
Roll Calls
2020-04-15 - Senate - Senate: Third Reading RSN# 1458 (Y: 33 N: 0 NV: 0 Abs: 5) [PASS]
2020-04-14 - House - House: Third Reading RCS# 359 (Y: 78 N: 9 NV: 0 Abs: 13) [PASS]
2020-03-17 - Senate - Senate: Third Reading RSN# 1348 (Y: 34 N: 0 NV: 0 Abs: 4) [PASS]
2020-04-14 - House - House: Third Reading RCS# 359 (Y: 78 N: 9 NV: 0 Abs: 13) [PASS]
2020-03-17 - Senate - Senate: Third Reading RSN# 1348 (Y: 34 N: 0 NV: 0 Abs: 4) [PASS]
History
Date | Chamber | Action |
---|---|---|
2020-04-24 | Senate | signed by Governor (Acts Ch. 121) |
2020-04-15 | Senate | delivered to Governor |
2020-04-15 | Senate | enrolled, signed by Speaker of the House |
2020-04-15 | Senate | enrolled, signed by President of the Senate |
2020-04-15 | Senate | passed 33-0 |
2020-04-15 | Senate | Senate concurred in House Committee Substitute (1) |
2020-04-15 | Senate | posted for passage for concurrence in House Committee Substitute (1) |
2020-04-15 | Senate | to Rules (S) |
2020-04-15 | Senate | received in Senate |
2020-04-14 | House | 3rd reading, passed 78-9 with Committee Substitute (1) |
2020-04-14 | House | placed in the Orders of the Day |
2020-04-14 | House | taken from Rules |
2020-03-26 | House | reported favorably, 2nd reading, to Rules with Committee Substitute (1) |
2020-03-19 | House | posted in committee |
2020-03-19 | House | returned to Local Government (H) |
2020-03-19 | House | 1st reading |
2020-03-19 | House | taken from Local Government (H) |
2020-03-19 | House | to Local Government (H) |
2020-03-18 | House | received in House |
2020-03-17 | Senate | 3rd reading, passed 34-0 |
2020-03-17 | Senate | posted for passage in the Consent Orders of the Day for Tuesday, March 17, 2020 |
2020-03-12 | Senate | 2nd reading, to Rules |
2020-03-11 | Senate | reported favorably, 1st reading, to Consent Calendar |
2020-03-04 | Senate | to State & Local Government (S) |
2020-03-02 | Senate | introduced in Senate |
Subjects
Cities
Cities, First Class
Firefighters and Fire Departments
Local Mandate
Police, City and County
Retirement and Pensions
Cities, First Class
Firefighters and Fire Departments
Local Mandate
Police, City and County
Retirement and Pensions