25RS SB 58

Senate Bill 58

Actions

Last Action	03/27/25: returned to Committee on Committees (H)
Title	AN ACT relating to designating a special needs trust to receive state-administered retirement benefits.
Bill Documents	Current/Final Introduced
Fiscal Impact Statement	Actuarial Analysis
Bill Request Number	938
Sponsors	R. Webb, D. Carroll
Summary of Original Version	Amend KRS 16.505, 61.510, and 78.510 to define "special needs trust" (SNT) for purposes of the State Police Retirement System, Kentucky Employees Retirement System, and County Employees Retirement System; amend the definition of "person" to include a SNT, and amend the definition of "beneficiary" to exclude sole beneficiary of a SNT; amend KRS 16.578 to allow a SNT to receive a lifetime retirement benefit; amend KRS 61.623 to allow a trustee to receive checks on behalf of a SNT; amend KRS 61.635 to allow a person who is the beneficiary of a SNT to be designated as the beneficiary of a lifetime retirement benefit; require the trustee of a SNT to notify the Kentucky Public Pensions Authority (KPPA) upon the death of the beneficiary of a SNT and repay any payment not properly payable to the SNT; allow KPPA to promulgate administrative regulations to administer the SNT provisions; amend KRS 61.640 to allow a SNT to receive a lifetime retirement payment if a member dies before retirement; amend KRS 78.5532 to allow a SNT to receive a lifetime retirement benefit if a member dies before retirement; amend KRS 161.525, relating to the Teachers' Retirement System (TRS) to allow a SNT to receive a lifetime annuity if a member dies before retirement; amend KRS 161.640 to allow checks to be sent by mail to the trustee of a SNT; require the trustee to notify the TRS upon the death of the beneficiary; require any payments not properly payable to the SNT to be repaid to TRS; allow TRS to promulgate administrative regulations to administer the SNT provisions; amend KRS 161.700 to require TRS to assign annuity payments to a SNT, issue payments to the trustee, and prevent annuity payments from being used to reimburse any state for any Medicaid benefits paid on behalf of the beneficiary of a SNT; amend KRS 21.420 , relating to the Judicial Retirement Plan, to allow for a SNT to be selected as a beneficiary, and define "special needs trust"; amend KRS 21.425 to allow a member to designate a SNT to receive lifetime survivorship benefits on behalf of a surviving spouse, dependent child, or disabled child.
Index Headings of Original Version	Actuarial Analysis - State-administered retirement systems, special needs trust, lifetime annuity payments, establishment Judges and Court Commissioners - Retirement, special needs trusts, lifetime annuity payments Public Officers and Employees - Retirement, special needs trusts, lifetime annuity payments Retirement and Pensions - State-administered retirement systems, special needs trust, lifetime annuity payments, establishment State Agencies - State-administered retirement systems, beneficiaries, special needs trusts Teachers - Retirement, special needs trusts, lifetime annuity payments
Votes	Vote History

01/08/25	introduced in Senate to Committee on Committees (S)
02/06/25	to State & Local Government (S)
02/26/25	reported favorably, 1st reading, to Calendar
02/27/25	2nd reading, to Rules
02/28/25	posted for passage in the Regular Orders of the Day for Wednesday, March 05, 2025
03/05/25	3rd reading, passed 38-0
03/06/25	received in House to Committee on Committees (H)
03/13/25	taken from Committee on Committees (H) 1st reading returned to Committee on Committees (H)
03/27/25	taken from Committee on Committees (H) 2nd reading returned to Committee on Committees (H)