Kentucky
General Assembly

01/09/15	introduced in House
02/03/15	to Appropriations & Revenue (H)
02/06/15	posted in committee
02/10/15	reported favorably, 1st reading, to Calendar
02/11/15	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Thursday, February 12, 2015 floor amendments (1) and (2) filed
02/12/15	floor amendments (3) and (4-title) filed
02/23/15	3rd reading floor amendment (1) defeated passed 62-31
02/24/15	received in Senate
02/26/15	to State & Local Government (S)
03/03/15	taken from State & Local Government (S) 1st reading returned to State & Local Government (S)
03/09/15	taken from State & Local Government (S) 2nd reading returned to State & Local Government (S) reported favorably, to Rules with Committee Substitute, committee amendment (1-title)
03/10/15	posted for passage in the Regular Orders of the Day for Tuesday, March 10, 2015 3rd reading, passed 26-10 with Committee Substitute, committee amendment (1-title) received in House to Rules (H)
03/11/15	posted for passage for concurrence in Senate Committee Substitute, committee amendment (1-title) House refused to concur in Senate Committee Substitute, committee amendment (1-title) received in Senate to Rules (S) posted for passage for receding from Senate Committee Substitute, committee amendment (1-title) Senate refused to recede from Committee Substitute, committee amendment (1-title) Conference Committee appointed in House and Senate
03/23/15	Conference Committee report filed in House and Senate Conference Committee report adopted in House Free Conference Committee appointed in House

Amendment	House Floor Amendment 1
Sponsor	B. Montell
Summary	Retain original provisions, except to limit funding note authorization to $520 million and to remove language regarding intent of General Assembly to phase-in schedule to the full actuarially required contribution for KTRS; provide that funding notes will be used to pay the full actuarially required contribution for fiscal year 2015-2016; require the Public Pension Oversight Board, established pursuant to KRS 7A.200 to 7A.260, to study and develop consensus recommendations concerning the benefits, investments, and funding of the Kentucky Teachers' Retirement System; require study and recommendations to be submitted to the Legislative Research Commission by December 1, 2015.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS

Amendment	House Floor Amendment 2
Sponsor	B. Montell
Summary	Delete provisions of the bill; amend KRS 161.550 to establish intent of General Assembly to phase in to the full actuarially required contribution rate for the Kentucky Teachers' Retirement System pension fund with direct state appropriations on a pro-rata basis from fiscal year 2016-2017 to fiscal year 2024-2025.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS

Amendment	House Floor Amendment 3
Sponsor	A. Wuchner
Summary	Delete provisions of the bill; amend KRS 161.550 to establish intent of General Assembly to phase-into the full actuarially required contribution rate for the Kentucky Teachers' Retirement System pension fund with direct state appropriations on a pro-rata basis from fiscal year 2016-2017 to fiscal year 2020-2021; require the Public Pension Oversight Board, established pursuant to KRS 7A.200 to 7A.260, to study and develop consensus recommendations concerning the benefits, investments, and funding of the Kentucky Teachers' Retirement System, including evaluating bonding the portion of additional state appropriations needed to fund the Kentucky Teachers' Retirement System pension fund on an actuarially sound basis that are not covered by the phase-in schedule; require study and recommendations to be submitted to the Legislative Research Commission by December 1, 2015.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS

Amendment	House Floor Amendment 4
Sponsor	A. Wuchner
Summary	Make title amendment.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS

Amendment	Senate Committee Substitute 1
Summary	Remove original provisions; establish the Kentucky Teachers' Retirement System Task Force; provide that the purpose of the task force is to study issues regarding the Kentucky Teachers' Retirement System and to develop consensus recommendations concerning the benefits and funding of the system; name the membership of the task force; require the task force to meet at least monthly before submitting its findings and recommendations; require its findings and recommendations to be submitted to the Legislative Research Commission by December 18, 2015; provide that subject to selection and approval by the Legislative Research Commission the task force may utilize the services of consultants, actuaries, or legal counsel to render professional, managerial, and technical assistance, as needed; provide that the Legislative Research Commission has authority to alternatively assign the issues identified in the Resolution to interim joint committees or subcommittees thereof.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS

Amendment	Senate Committee Amendment 1
Sponsor	J. Bowen
Summary	Make title amendment.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS

Amendment	Conference Committee Report 1
Summary	Cannot agree.
Index Headings	Retirement and Pensions - Kentucky Teachers' Retirement System, provide for additional funding and funding note authorization State Agencies - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Appropriations - Kentucky Teachers' Retirement System, authorize debt service for funding notes Budget and Financial Administration - Kentucky Asset Liability Commission, authorization for funding notes for KTRS Budget and Financial Administration - Kentucky Teachers' Retirement System, authorize debt service for funding notes Actuarial Analysis - Kentucky Asset Liability Commission, authorization for funding notes for KTRS