SCS1/AA - Amend KRS 61.522 to allow universities, community colleges, and health departments to cease participating in the Kentucky Employees Retirement System provided the agency pays the cost of ceasing participation; provide a window where quasi-state agencies who are eligible to cease participating in the Kentucky Employees Retirement System or non-stock non-profit agencies eligible to cease participating in the County Employees Retirement System (CERS) may elect prior to July 1, 2018, to cease participating in the system by paying the prorated share of the system's unfunded liability based upon the employer's share of total payroll in FY 2015, 2016, and 2017; provide that the window effective cessation date is June 30, 2019 and that employees of the ceasing employer shall contribute until June 30, 2019; allow employers ceasing participation in the window to pay off the cost through installments without interest; provide that the installments in FY 19 and 20 shall be equal to the contributions paid by the employers in FY 18 and to provide an increase in the payment of 5% per year each year; provide a maximum payback period of 40 years; amend KRS 61.565 to provide that CERS employer contribution rate shall not increase by more than 12% per year over the prior fiscal year from July 1, 2018, to June 30, 2028; EMERGENCY.
     SCA1( C. McDaniel ) - Make title amendment.

     Jan 04, 2018 - introduced in Senate
     Jan 05, 2018 - to Appropriations & Revenue (S)
     Feb 27, 2018 - reported favorably, 1st reading, to Calendar with Committee Substitute (1) and committee amendment (1-title)
     Feb 28, 2018 - 2nd reading, to Rules
     Mar 12, 2018 - taken from Rules; recommitted to Appropriations & Revenue (S)