| Last Action | to State Government (H) |
|---|---|
| Title | AN ACT relating to legislative retirement. |
| Bill Documents |
Bill
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| Impact Statements | Actuarial Analysis |
| Bill Request Number | 458 |
| Sponsor | M. Denham |
| Summary of Original Version | Amend KRS 6.520 to have pensions for members who begin contributing to the Legislators' Retirement Plan on or after July 1, 2013, based upon the member's highest 5 years of salary rather than the member's highest 3 years of salary; allow members participating in the Legislators' Retirement Plan prior to July 1, 2013, to make a one-time election to have their benefits based upon the member's highest 5 years of salary rather than the member's highest 3 years of salary; Amend KRS 6.525 to prohibit members of the Legislators' Retirement Plan, who begin contributing on or after July 1, 2013, from using salary earned in another state-administered retirement system or plan to calculate benefits in the Legislators' Retirement Plan; allow members of the Legislators' Retirement Plan contributing to the plan prior to July 1, 2013, to make a one-time election to have their benefits from the Legislators' Retirement Plan based solely on their legislative salary. |
| Index Headings of Original Version |
General Assembly - Legislators' Retirement Plan, account consolidation with other state systems, restriction of General Assembly - Retirement, benefit calculation to be based upon high 5 years of salary rather than high 3 Public Officers and Employees - Legislators' Retirement Plan, account consolidation with other state systems, restriction of Retirement and Pensions - Legislators' Retirement Plan, account consolidation with other state systems, restriction of Retirement and Pensions - Legislators' Retirement Plan, benefit based upon high 5 years of salary rather than high 3 Actuarial Analysis - Legislators' Retirement Plan, benefit based upon high 5 years of salary rather than high 3 |
| 02/11/13 |
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| 02/12/13 |
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Last updated: 8/27/2019 7:53 PM (EDT)