04RS HB290


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HB 290/LM/AA (BR 842) - C. Geveden, C. Siler

     AN ACT relating to retirement.
     Amend KRS Chapters 16 and 61 relating to benefits in the Kentucky Employees Retirement System, County Employees Retirement System, and State Police Retirement System for employees who begin participating August 1, 2004, or after; require a minimum age before retirement benefits may commence; prohibit the use of purchased service credit toward eligibility for retirement or insurance benefits; limit the amount of disability benefits payable; set the benefit factor for new employees in nonhazardous positions in the County Employees Retirement System; establish a monthly insurance contribution accrual and an automatic increase in the accrual rate based on the consumer price index for employees who began participating July 1, 2003, and after.


     HCS/LM/AA - Retain original provisions except delete the minimum retirement ages of 50 for hazardous employees and 55 for nonhazardous employees; prohibit service purchased after August 1, 2003, from inclusion in service used to determine insurance benefits; and apply new insurance benefits to employees hired on or after July 1, 2003.

     Jan 14-introduced in House
     Jan 15-to State Government (H)
     Jan 29-posted in committee
     Feb 24-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 25-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 26, 2004
     Mar 2-3rd reading, passed 93-0 with Committee Substitute
     Mar 3-received in Senate
     Mar 8-to State and Local Government (S)
     Mar 9-reported favorably, 1st reading, to Consent Calendar
     Mar 10-2nd reading, to Rules
     Mar 15-posted for passage in the Regular Orders of the Day for Thursday, March 18, 2004
     Mar 18-passed over and retained in the Orders of the Day
     Mar 19-3rd reading, passed 34-0
     Mar 22-received in House
     Mar 23-enrolled, signed by each presiding officer; delivered to Governor
     Apr 2-signed by Governor (Acts ch. 33)

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