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SB 163 (BR 1694) - E. Tori, J. Pendleton, W. Blevins Jr., D. Boswell, D. Harper Angel, D. Roeding
AN ACT relating to current and former members of the military and making an appropriation therefor.
Amend KRS 36.474 to authorize the military family assistance trust fund to be used for educational expenses for members or veterans of the military who lost a limb while on military duty.
SB 163 - AMENDMENTS
SFA (1, E. Tori) - Amend to change "home of legal residence" to "home of record" for purposes of eligibility.
HFA (1, M. Cherry) - Amend KRS 6.350 to establish new procedures for the completion of the required actuarial analysis for bills pertaining to state-administered retirement systems; amend KRS 16.505, 61.510, and 78.510 to establish new calculation of final compensation for KERS, CERS, and SPRS employees hired on or after July 1, 2008; amend KRS 16.560, 61.575, and 78.640 to establish fixed 2.5 percent interest rate on member contribution accounts for KERS, CERS, and SPRS employees hired on or after July 1, 2008; amend KRS 16.576, 16.577, 61.559, and 61.595 to establish new retirement requirements and benefit multipliers for KERS, CERS, and SPRS employees hired on or after July 1, 2008; create a new section of KRS Chapter 42 to establish the Kentucky Public Pension Financing Advisory Commission in the Finance and Administration Cabinet to review investments and financing of the state-administered retirement systems and to provide a report to the General Assembly; amend KRS 61.546 to limit sick leave service credit for KERS and SPRS employees hired on or after July 1, 2008 to 12 months and only for benefit determination; amend KRS 61.5525 to require service purchases made on or after July 1, 2008, to reflect full actuarial cost; amend KRS 61.592 to establish a new definition of hazardous duty for CERS employees hired on or after July 1, 2008 and to require the agency to recertify new employees to the retirement systems; amend KRS 61.635 to provide that the partial lump-sum payment option shall only be provided to KERS, CERS, and SPRS employees retiring on or before July 1, 2008; amend KRS 61.637 to establish new requirements for KERS, CERS, and SPRS retirees who are reemployed on or after July 1, 2008; amend KRS 61.645 to limit KERS, CERS, and SPRS elected trustees to three terms, to require the board to establish a formal trustee education program, and to require the systems to post specific board administration, financial, and investment materials to the systems' Web site; amend KRS 61.691 to provide a 1.5 percent COLA to KERS, CERS, and SPRS recipients on or after July 1, 2009 and to clarify policy and funding for COLA's in excess of 1.5 percent; amend KRS 61.702 to require KERS, CERS, and SPRS employees hired on or after July 1, 2008 to pay 1 percent in contributions for retiree health benefits, to work fifteen years before vesting for health benefits, and to provide that the amount of retiree health benefits that KERS, CERS, and SPRS employees hired on or after July 1, 2003 are eligible for shall be increased by 1.5 percent annually; amend KRS 78.616 to limit sick leave service credit for CERS employees hired on or after July 1, 2008 to 12 months or as limited by Section 24 of this Act and used only for benefit determination; amend KRS 161.155 to set sick leave maximum for retirement purposes at 300 days for school employees and teachers; amend KRS 161.220 to remove annual compensation and compensatory leave paid at retirement from calculation of retirement benefits and to establish fixed 2.5 percent interest rate on member contribution accounts for KTRS employees hired on or after July 1, 2008; amend KRS 161.250 to limit KTRS elected trustees to three terms, to require the board to establish a formal trustee education program, and to require the systems to post specific board administration, financial, and investment materials to the systems' website; amend KRS 161.420 and 161.540 to require KTRS employees hired on or after July 1, 2008 to pay an additional 1 percent in contributions for retiree health benefits; amend KRS 161.545 and 161.5465 to provide that KTRS employees hired on or after July 1, 2008, shall not be eligible to purchase noncurrent leave and air-time, except that upon retirement the new KTRS employee may purchase up to ten months of air-time to complete the 27 year requirement; amend KRS 161.600 to increase service requirement from five to ten years for a KTRS employee who is hired on or after July 1, 2008; amend KRS 161.605 to provide an additional option for reemployment after retirement for KTRS retirees who wish to return to work; amend KRS 161.620 to establish new benefit multipliers for KTRS employees hired on or after July 1, 2008; amend KRS 161.675 to require KTRS employees hired on or after July 1, 2008, to have at least 15 years of service in order to be eligible for retiree health benefits after retirement; repeal 161.603; amend KRS 6.521 to provide a 1.5 percent COLA to recipients of the Legislators' Retirement Plan on or after July 1, 2009; amend KRS 6.505 to increase employee contribution to six percent for legislators entering the Legislators' Retirement Plan on or after July 1, 2008, and to make exceptions to the requirement; amend KRS 21.405 to provide a 1.5 percent COLA to recipients of the Judicial Retirement Plan on or after July 1, 2009, and to clarify policy and funding for COLA's in excess of 1.5 percent; amend KRS 21.360 to increase employee contribution to six percent for judges and justices entering the Judicial Retirement Plan on or after July 1, 2008; establish the CERS contributions for the 2008-2010 biennium; require the Interim Joint Committee on State Government to study transferring school board employees in CERS to KTRS and to study KERS hazardous duty positions; declare an EMERGENCY.
HFA (2/Title, M. Cherry) - Make title amendment.
Feb 14-introduced in Senate
Feb 19-to Veterans, Military Affairs, & Public Protection (S)
Feb 21-reported favorably, 1st reading, to Calendar
Feb 25-2nd reading, to Rules
Feb 26-posted for passage in the Regular Orders of the Day for Wednesday, February 27, 2008; floor amendment (1) filed
Feb 27-3rd reading, passed 33-0 with floor amendment (1)
Feb 28-received in House
Mar 3-to Seniors, Military Affairs, & Public Safety (H)
Mar 10-posted in committee
Mar 26-reported favorably, 1st reading, to Calendar
Mar 27-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, March 28, 2008
Apr 15-floor amendments (1) and (2-title) filed ; 3rd reading, passed 86-8 with floor amendments (1) and (2-title)
Vote History
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