HB 380/AA (BR 406) - M. Cherry, B. Housman, A. Simpson
AN ACT relating to retirement.
Amend KRS 61.645 to require that two of the three Governor appointees to the Kentucky Retirement Systems board of trustees possess ten years of investment experience and to define investment experience, and to prohibit systems' employees from serving as a member of the board, amend KRS 61.650 to establish a five member investment committee for the Kentucky Retirement Systems composed of the two Governor appointees with investment experience, and three trustees appointed by the board chair, and to limit the amount of assets managed by a single external investment manager to no more than fifteen percent of the systems' portfolio; amend KRS 16.642 and 78.790 to clarify that the investment committee established by amendments to KRS 61.650 is the investment committee for the State Police Retirement System and the County Employees Retirement System and to limit the amount of assets managed by a single external investment manager.
HB 380 - AMENDMENTS
SCS/AA - Retain original provisions except to amend KRS 61.645 to prohibit former employees of Kentucky Retirement Systems from serving on the board of trustees for the systems.
Feb 10-introduced in House
Feb 11-to State Government (H)
Feb 13-posted in committee
Feb 23-reported favorably, 1st reading, to Calendar
Feb 24-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Wednesday, February 25, 2009
Mar 2-3rd reading, passed 95-0
Mar 3-received in Senate
Mar 5-to State & Local Government (S)
Mar 9-taken from committee; 1st reading; returned to State & Local Government (S)
Mar 10-taken from committee; 2nd reading; returned to State & Local Government (S)
Mar 11-reported favorably, to Rules as a Consent bill with Committee Substitute