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SB 86/AA (BR 1314) - L. Casebier
AN ACT relating to the reemployment of retired educators.
Amend KRS 161.220 to delete the definition of "employ"; amend KRS 161.605 to remove references to length of service for eligibility for reemployment; remove reference to the cap on earnings of 75% of the member's last annual compensation measured on a daily basis; delete the option for the board of trustees to annually adjust the daily annual compensation rate; change the required break in service of a retiree from one year for reemployment with the same employer or three months for reemployment with a different employer to one month; make technical changes; amend KRS 161.507, 161.5465, 161.548, 161.459, 161.595, 161.615 and 161.623 to conform.
SB 86 - AMENDMENTS
SCS/AA - Delete original provisions; amend KRS 161.605 to permit the employer of members of the Kentucky Teachers Retirement System to elect to allow retired members to return to work without a 75% cap or 65% cap on their last annual salary by making payment to the retirement system for all actuarial obligations that occur as a result of the removal of the caps; the election of this alternative shall apply to all the employer’s retirees and must continue for a period of years to be determined by the system to keep the system actuarially sound; limit the number of full-time retired members that may be employed by an employer to 3% rather than the current 4%; permit full-time retirees returning to work to elect a separation from service of a least 2 months followed by a waiver of the retirement allowance of a period of 10 months, and a part-time employee or an employee returning to work for a different employer to elect a separation from service of a least 2 months followed by a waiver of the retirement allowance of a period of 1 month; effective July 1, 2003, permit no more than 2 retirees per district or 1% of the total active members, whichever is greater, to return to work under critical shortage provisions; retirees under this provision will be exempt from salary caps but shall meet the separation-from-service requirements; critical shortage areas shall be established by the commissioner of education.
SFA (1, L. Casebier) - Define separation-from-service as the first day following the last day prior to retirement when the member was paid in an eligible position.
Feb 4-introduced in Senate
Feb 7-to Education (S)
Feb 19-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 20-2nd reading, to Rules; floor amendment (1) filed to Committee Substitute
Feb 27-recommitted to Appropriations and Revenue (S)
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