13RS Senate Bill 165

Senate Bill 165

Actions

Last Action	to State & Local Government (S)
Title	AN ACT relating to retirement.
Bill Documents	Bill
Impact Statements	Actuarial Analysis Local Mandate
Bill Request Number	926
Sponsor	C. McDaniel
Summary of Original Version	Create a new section of KRS 61.510 to 61.705 to allow employees of the Kentucky Employees Retirement System, the County Employees Retirement System, and the State Police Retirement System to make a one-time irrevocable election to discontinue participation in the systems for all current and future employment with any employer participating in the systems and to provide members who elect to discontinue participation with a refund of their accumulated contributions; amend KRS 6.505 and 21.360 to allow judges and legislators in the Legislators' Retirement Plan and the Judicial Retirement Plan to make a one-time irrevocable election to discontinue participation in the plans for all future service as a judge or legislator and to provide members who elect to discontinue participation with a refund of their accumulated contributions; amend KRS 161.470 to allow employees of the Kentucky Teachers' Retirement System to make a one-time irrevocable election to discontinue participation in the system for all current and future employment with any employer participating in the system and to provide members who elect to discontinue participation with a refund of their accumulated contributions; amend KRS 16.520, 16.645, 61.520, 61.525, 78.540, and 78.545 to conform.
Index Headings of Original Version	General Assembly - Allow one-time opt-out for members of the Legislative Retirement Plan Judges and Court Commissioners - Retirement, allow onetime opt-out for members of the Judicial Retirement Plan Local Government - Retirement, allow onetime opt-out for members of the County Employees Retirement System Peace Officers and Law Enforcement - Retirement, allow onetime opt-out for members of the state-administered retirement plans Personnel and Employment - Retirement, allow onetime opt-out for members of the state-administered retirement plans Public Officers and Employees - Retirement, allow onetime opt-out for members of the state-administered retirement plans Retirement and Pensions - Judicial Form Retirement System, allow onetime opt-out for members Retirement and Pensions - Kentucky Retirement Systems, allow onetime opt-out for members Retirement and Pensions - Kentucky Teachers' Retirement System, allow onetime opt-out for members State Employees - Allow onetime opt-out for members of the Kentucky Employees Retirement System Local Mandate - Kentucky Teachers' Retirement System, allow onetime opt-out for members Actuarial Analysis - Kentucky Teachers' Retirement System, allow onetime opt-out for members

02/14/13	introduced in Senate
02/19/13	to State & Local Government (S)