Senate Bill 168

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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 1368
Sponsor C. McDaniel
Summary of Original Version Create a new section of KRS 161.220 to 161.716 to allow an employer participating in the Kentucky Teachers' Retirement System to discontinue participation in the system for new hires provided the employer pays to have an actuarial cost study completed to determine the cost to the system for the loss of new employees, the employer offers an alternative retirement plan, and the employer enters into an irrevocable contract to pay the system for the actuarial cost over a period not to exceed 30 years; amend KRS 61.520 and 78.535 to allow an employer participating in the Kentucky Employees Retirement System and the County Employees Retirement System to discontinue participation in the system for new hires provided the employer pays to have an actuarial cost study completed to determine the cost to the system for the loss of new employees, the employer offers an alternative retirement plan, and the employer enters into an irrevocable contract to pay the system for the actuarial cost over a period not to exceed 30 years; amend KRS 61.525, 61.543, 61.560, 78.530, 78.540, 78.610, 78.615, 95.520, 95.621, and 95.852 to conform.
Index Headings of Original Version Local Government - Retirement, public agencies allowed to cease participation in state retirement systems for new hires
Public Officers and Employees - Retirement, public agencies allowed to cease participation in state retirement systems for new hires
Retirement and Pensions - Kentucky Retirement Systems, employers allowed to cease participation for new hires
Retirement and Pensions - Kentucky Teachers' Retirement System, employers allowed to cease participation for new hires
State Agencies - Retirement, public agencies allowed to cease participation in state retirement systems for new hires
Actuarial Analysis - Kentucky Teachers' Retirement System, employers allowed to cease participation for new hires
Local Mandate - Kentucky Teachers' Retirement System, employers allowed to cease participation for new hires

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


Last updated: 8/27/2019 7:53 PM (EDT)