Title 105 | Chapter 001 | Regulation 071
INACTIVE
This document is no longer current.
FINANCE AND ADMINISTRATION CABINET
Kentucky Retirement Systems
(New Administrative Regulation)
105 KAR 1:071.Repeal of 105 KAR 1:070.
Section 1.
105 KAR 1:070, Allocation of special appropriation for military service credit, is hereby repealed.HISTORY: Repealed effective 05-02-2023
DAVID L. EAGER, Executive Director
APPROVED BY AGENCY: October 12, 2022
FILED WITH LRC: October 13, 2022 at 8:15 a.m.
PUBLIC HEARING AND COMMENT PERIOD: A public hearing on this administrative regulation shall be held on Wednesday, December 21, 2022, at 10:00 a.m. Eastern Time at the Kentucky Public Pensions Authority, 1270 Louisville Road, Frankfort, Kentucky 40601. Individuals interested in being heard at this hearing shall notify this agency in writing by five workdays prior to the hearing, of their intent to attend. If no notification of intent to attend the hearing is received by that date, the hearing may be canceled. This hearing is open to the public. Any person who wishes to be heard will be given an opportunity to comment on the proposed administrative regulation. A transcript of the public hearing will not be made unless a written request for a transcript is made. If you do not wish to be heard at the public hearing, you may submit written comments on the proposed administrative regulation. Written comments shall be accepted through December 31, 2022. Send written notification of intent to be heard at the public hearing or written comments on the proposed administrative regulation to the contact person.
CONTACT PERSON: Jessica Beaubien, Policy Specialist, Kentucky Public Pensions Authority, 1260 Louisville Road, Frankfort, Kentucky 40601, phone (502) 696-8800 ext. 8570, fax(502) 696-8615, email Legal.Non-Advocacy@kyret.ky.gov.
REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT
Contact Person:
Jessica Beaubien
(1) Provide a brief summary of:
(a) What this administrative regulation does:
This administrative regulation repeals 105 KAR 1:070.
(b) The necessity of this administrative regulation:
This administrative regulation is necessary due to repeal of statutory authority KRS 61.555(4).
(c) How this administrative regulation conforms to the content of the authorizing statutes:
KRS 61.505(1)(g) authorizes the Kentucky Public Pensions Authority to promulgate administrative regulations on behalf of the Kentucky Retirement Systems and the County Employees Retirement System that are consistent with KRS 61.510 to 61.705, 16.505 to 16.652, and 78.510 to 78.852. KRS 61.555(4), the statutory authority for 105 KAR 1:070, was repealed.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation will assist with the administration of the statutes by repealing 105 KAR 1:070 since it no longer has statutory authority.
(2) If this is an amendment to an existing administrative regulation, provide a brief summary of:
(a) How the amendment will change this existing administrative regulation:
This is a repealer.
(b) The necessity of the amendment to this administrative regulation:
This is a repealer.
(c) How the amendment conforms to the content of the authorizing statutes:
This is a repealer.
(d) How the amendment will assist in the effective administration of the statutes:
This is a repealer.
(3) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation:
Unknown number of individuals. No businesses, organizations, or state or local governments will be affected.
(4) Provide an analysis of how the entities identified in question (3) will be impacted by either the implementation of this administrative regulation, if new, or by the change, if it is an amendment, including:
(a) List the actions that each of the regulated entities identified in question (3) will have to take to comply with this administrative regulation or amendment:
No action required.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (3):
There is no cost for compliance.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (3):
None.
(5) Provide an estimate of how much it will cost the administrative body to implement this administrative regulation:
(a) Initially:
There are no costs associated with the implementation of this repealer.
(b) On a continuing basis:
There are no costs associated with the implementation of this repealer.
(6) What is the source of the funding to be used for the implementation and enforcement of this administrative regulation:
No funding is needed.
(7) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change if it is an amendment:
No increase in fees or funding is required to implement this repealer.
(8) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees:
This repealer does not establish any fees or directly or indirectly increase any fees.
(9) TIERING: Is tiering applied?
Tiering is not applied. All affected public retirement systems are treated in the same manner by this repealer.
FISCAL NOTE
(1) What units, parts, or divisions of state or local government (including cities, counties, fire departments, or school districts) will be impacted by this administrative regulation?
None.
(2) Identify each state or federal statute or federal regulation that requires or authorizes the action taken by the administrative regulation.
KRS 61.505(1)(g).
(3) Estimate the effect of this administrative regulation on the expenditures and revenues of a state or local government agency (including cities, counties, fire departments, or school districts) for the first full year the administrative regulation is to be in effect.
(a) How much revenue will this administrative regulation generate for the state or local government (including cities, counties, fire departments, or school districts) for the first year?
None.
(b) How much revenue will this administrative regulation generate for the state or local government (including cities, counties, fire departments, or school districts) for subsequent years?
None.
(c) How much will it cost to administer this program for the first year?
Nothing.
(d) How much will it cost to administer this program for subsequent years?
Nothing.
Note: If specific dollar estimates cannot be determined, provide a brief narrative to explain the fiscal impact of the administrative regulation.
Revenues (+/-):
None.
Expenditures (+/-):
None.
Other Explanation:
None.
(4) Estimate the effect of this administrative regulation on the expenditures and cost savings of regulated entities for the first full year the administrative regulation is to be in effect.
(a) How much cost savings will this administrative regulation generate for the regulated entities for the first year?
Unknown.
(b) How much cost savings will this administrative regulation generate for the regulated entities for subsequent years?
Unknown.
(c) How much will it cost the regulated entities for the first year?
Unknown.
(d) How much will it cost the regulated entities for subsequent years?
Unknown.
Note: If specific dollar estimates cannot be determined, provide a brief narrative to explain the fiscal impact of the administrative regulation.
Cost Savings (+/-):
Unknown.
Expenditures (+/-):
None.
Other Explanation:
The fiscal impact of this repealer is minimal, if there is any fiscal impact at all. The service credit provided for in KRS 61.555(4) and 105 KAR 1:070 had not received funding for many years prior to the repeal of KRS 61.555(4).
(5) Explain whether this administrative regulation will have a major economic impact, as defined below.
"Major economic impact" means an overall negative or adverse economic impact from an administrative regulation of five hundred thousand dollars ($500,000) or more on state or local government or regulated entities, in aggregate, as determined by the promulgating administrative bodies. [KRS 13A.010(13)] This repealer will not have a "major economic impact" because it will not have a negative or adverse economic impact on the Kentucky Public Pensions Authority or the three (3) public retirement systems for which it provides day-to-day operations (the Kentucky Employees Retirement System, the County Employees Retirement System, and the State Police Retirement System).
FINANCE AND ADMINISTRATION CABINET
Kentucky Retirement Systems
(New Administrative Regulation)
105 KAR 1:071.Repeal of 105 KAR 1:070.
Section 1.
105 KAR 1:070, Allocation of special appropriation for military service credit, is hereby repealed.HISTORY: Repealed effective 05-02-2023
DAVID L. EAGER, Executive Director
APPROVED BY AGENCY: October 12, 2022
FILED WITH LRC: October 13, 2022 at 8:15 a.m.
PUBLIC HEARING AND COMMENT PERIOD: A public hearing on this administrative regulation shall be held on Wednesday, December 21, 2022, at 10:00 a.m. Eastern Time at the Kentucky Public Pensions Authority, 1270 Louisville Road, Frankfort, Kentucky 40601. Individuals interested in being heard at this hearing shall notify this agency in writing by five workdays prior to the hearing, of their intent to attend. If no notification of intent to attend the hearing is received by that date, the hearing may be canceled. This hearing is open to the public. Any person who wishes to be heard will be given an opportunity to comment on the proposed administrative regulation. A transcript of the public hearing will not be made unless a written request for a transcript is made. If you do not wish to be heard at the public hearing, you may submit written comments on the proposed administrative regulation. Written comments shall be accepted through December 31, 2022. Send written notification of intent to be heard at the public hearing or written comments on the proposed administrative regulation to the contact person.
CONTACT PERSON: Jessica Beaubien, Policy Specialist, Kentucky Public Pensions Authority, 1260 Louisville Road, Frankfort, Kentucky 40601, phone (502) 696-8800 ext. 8570, fax(502) 696-8615, email Legal.Non-Advocacy@kyret.ky.gov.
REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT
Contact Person:
Jessica Beaubien
(1) Provide a brief summary of:
(a) What this administrative regulation does:
This administrative regulation repeals 105 KAR 1:070.
(b) The necessity of this administrative regulation:
This administrative regulation is necessary due to repeal of statutory authority KRS 61.555(4).
(c) How this administrative regulation conforms to the content of the authorizing statutes:
KRS 61.505(1)(g) authorizes the Kentucky Public Pensions Authority to promulgate administrative regulations on behalf of the Kentucky Retirement Systems and the County Employees Retirement System that are consistent with KRS 61.510 to 61.705, 16.505 to 16.652, and 78.510 to 78.852. KRS 61.555(4), the statutory authority for 105 KAR 1:070, was repealed.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation will assist with the administration of the statutes by repealing 105 KAR 1:070 since it no longer has statutory authority.
(2) If this is an amendment to an existing administrative regulation, provide a brief summary of:
(a) How the amendment will change this existing administrative regulation:
This is a repealer.
(b) The necessity of the amendment to this administrative regulation:
This is a repealer.
(c) How the amendment conforms to the content of the authorizing statutes:
This is a repealer.
(d) How the amendment will assist in the effective administration of the statutes:
This is a repealer.
(3) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation:
Unknown number of individuals. No businesses, organizations, or state or local governments will be affected.
(4) Provide an analysis of how the entities identified in question (3) will be impacted by either the implementation of this administrative regulation, if new, or by the change, if it is an amendment, including:
(a) List the actions that each of the regulated entities identified in question (3) will have to take to comply with this administrative regulation or amendment:
No action required.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (3):
There is no cost for compliance.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (3):
None.
(5) Provide an estimate of how much it will cost the administrative body to implement this administrative regulation:
(a) Initially:
There are no costs associated with the implementation of this repealer.
(b) On a continuing basis:
There are no costs associated with the implementation of this repealer.
(6) What is the source of the funding to be used for the implementation and enforcement of this administrative regulation:
No funding is needed.
(7) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change if it is an amendment:
No increase in fees or funding is required to implement this repealer.
(8) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees:
This repealer does not establish any fees or directly or indirectly increase any fees.
(9) TIERING: Is tiering applied?
Tiering is not applied. All affected public retirement systems are treated in the same manner by this repealer.
FISCAL NOTE
(1) What units, parts, or divisions of state or local government (including cities, counties, fire departments, or school districts) will be impacted by this administrative regulation?
None.
(2) Identify each state or federal statute or federal regulation that requires or authorizes the action taken by the administrative regulation.
KRS 61.505(1)(g).
(3) Estimate the effect of this administrative regulation on the expenditures and revenues of a state or local government agency (including cities, counties, fire departments, or school districts) for the first full year the administrative regulation is to be in effect.
(a) How much revenue will this administrative regulation generate for the state or local government (including cities, counties, fire departments, or school districts) for the first year?
None.
(b) How much revenue will this administrative regulation generate for the state or local government (including cities, counties, fire departments, or school districts) for subsequent years?
None.
(c) How much will it cost to administer this program for the first year?
Nothing.
(d) How much will it cost to administer this program for subsequent years?
Nothing.
Note: If specific dollar estimates cannot be determined, provide a brief narrative to explain the fiscal impact of the administrative regulation.
Revenues (+/-):
None.
Expenditures (+/-):
None.
Other Explanation:
None.
(4) Estimate the effect of this administrative regulation on the expenditures and cost savings of regulated entities for the first full year the administrative regulation is to be in effect.
(a) How much cost savings will this administrative regulation generate for the regulated entities for the first year?
Unknown.
(b) How much cost savings will this administrative regulation generate for the regulated entities for subsequent years?
Unknown.
(c) How much will it cost the regulated entities for the first year?
Unknown.
(d) How much will it cost the regulated entities for subsequent years?
Unknown.
Note: If specific dollar estimates cannot be determined, provide a brief narrative to explain the fiscal impact of the administrative regulation.
Cost Savings (+/-):
Unknown.
Expenditures (+/-):
None.
Other Explanation:
The fiscal impact of this repealer is minimal, if there is any fiscal impact at all. The service credit provided for in KRS 61.555(4) and 105 KAR 1:070 had not received funding for many years prior to the repeal of KRS 61.555(4).
(5) Explain whether this administrative regulation will have a major economic impact, as defined below.
"Major economic impact" means an overall negative or adverse economic impact from an administrative regulation of five hundred thousand dollars ($500,000) or more on state or local government or regulated entities, in aggregate, as determined by the promulgating administrative bodies. [KRS 13A.010(13)] This repealer will not have a "major economic impact" because it will not have a negative or adverse economic impact on the Kentucky Public Pensions Authority or the three (3) public retirement systems for which it provides day-to-day operations (the Kentucky Employees Retirement System, the County Employees Retirement System, and the State Police Retirement System).