Kentucky
General Assembly

01/26/18	introduced in Senate
01/29/18	to State & Local Government (S)
03/14/18	reported favorably, 1st reading, to Consent Calendar
03/15/18	2nd reading, to Rules posted for passage in the Consent Orders of the Day for Friday, March 16, 2018
03/16/18	3rd reading, passed 36-0
03/19/18	received in House
03/20/18	taken from Committee on Committees (H) 1st reading returned to Committee on Committees (H) to State Government (H) posted in committee
03/21/18	taken from State Government (H) 2nd reading returned to State Government (H)
03/22/18	reported favorably, to Rules with Committee Substitute and committee amendment (1-title) posted for passage in the Regular Orders of the Day for Tuesday, March 27, 2018 floor amendments (1) and (2-title) filed
03/27/18	floor amendment (3) filed to hfa (1), floor amendment (4) filed to Committee Substitute, and floor amendments (5) and (6 title) filed to Bill
04/13/18	floor amendments (8), and (11) filed to Committee Substitute, floor amendment (9) filed to HFA (1), floor amendments (10-title), (12), (13-title) filed

Amendment	House Committee Substitute 1
Impact Statements	Actuarial Analysis Local Mandate
Summary	Retain original provisions; amend KRS 61.645 to allow the Kentucky Retirement Systems' board to promulgate an administrative regulation to conduct trustee elections by electronic ballot and to make technical changes; EMERGENCY
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Committee Amendment 1
Sponsor	J. Miller
Summary	Make title amendment.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 1
Sponsor	J. Miller
Summary	Delete original provisions; amend KRS 61.645 to allow the Kentucky Retirement Systems' board to promulgate an administrative regulation to conduct trustee elections by electronic ballot and to make technical changes.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 2
Sponsor	J. Miller
Summary	Make title amendment.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 3
Sponsor	J. Kay
Summary	Retain original provisions of HFA1; amend KRS 61.645 to require the Kentucky Retirement Systems (KRS) to follow the state Model Procurement Code when contracting for investment management services; provide that KRS board members may also be removed for a violation of fiduciary duties or conflict of interest; provide that a KRS board member shall not be considered as acting in good faith if they fail to disclose a conflict of interest; grant the Attorney General concurrent jurisdiction to investigate and prosecute violations of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems; specify investment fee and commission reporting to include underlying fund of fund fees; require investment managers failing to disclose investment holdings, fees, and commissions to forfeit any fees or commission paid by KRS; subject investment contracts made by the Kentucky Retirement System to full public disclosure; amend KRS 61.650 to require investment managers to formally adopt the CFA Institute's codes of conduct; require that failure to adhere to the codes result in the forfeiture of any fees or commissions paid by the Kentucky Retirement Systems; make conforming amendments; amend KRS 61.655 to amend conflict-of-interest provisions to prohibit a trustee and employees of the Kentucky Retirement Systems from having a contractual agreement with or interest in any entities providing services to the systems and from receiving, directly or indirectly, any interest, fees, or profit from entities that provide services to the Kentucky Retirement Systems; require trustees, members of the General Assembly, and public servants to adhere to relevant conflict-of-interest provisions during tenure and for five years following termination; require trustees and employees of the Kentucky Retirement Systems to file annual conflict-of-interest statements with the Kentucky Retirement Systems beginning on January 1, 2019; amend KRS 61.990 to provide that a knowing violation of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems is a Class D felony.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 4
Sponsor	J. Kay
Summary	Retain original provisions; amend KRS 61.645 to require the Kentucky Retirement Systems (KRS) to follow the state Model Procurement Code when contracting for investment management services; provide that KRS board members may also be removed for a violation of fiduciary duties or conflict of interest; provide that a KRS board member shall not be considered as acting in good faith if they fail to disclose a conflict of interest; grant the Attorney General concurrent jurisdiction to investigate and prosecute violations of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems; specify investment fee and commission reporting to include underlying fund of fund fees; require investment managers failing to disclose investment holdings, fees, and commissions to forfeit any fees or commission paid by KRS; subject investment contracts made by the Kentucky Retirement System to full public disclosure; amend KRS 61.650 to require investment managers to formally adopt the CFA Institute's codes of conduct; require that failure to adhere to the codes result in the forfeiture of any fees or commissions paid by the Kentucky Retirement Systems; make conforming amendments; amend KRS 61.655 to amend conflict-of-interest provisions to prohibit a trustee and employees of the Kentucky Retirement Systems from having a contractual agreement with or interest in any entities providing services to the systems and from receiving, directly or indirectly, any interest, fees, or profit from entities that provide services to the Kentucky Retirement Systems; require trustees, members of the General Assembly, and public servants to adhere to relevant conflict-of-interest provisions during tenure and for five years following termination; require trustees and employees of the Kentucky Retirement Systems to file annual conflict-of-interest statements with the Kentucky Retirement Systems beginning on January 1, 2019; amend KRS 61.990 to provide that a knowing violation of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems is a Class D felony.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 5
Sponsor	J. Kay
Summary	Retain original provisions; amend KRS 61.645 to require the Kentucky Retirement Systems (KRS) to follow the state Model Procurement Code when contracting for investment management services; provide that KRS board members may also be removed for a violation of fiduciary duties or conflict of interest; provide that a KRS board member shall not be considered as acting in good faith if they fail to disclose a conflict of interest; grant the Attorney General concurrent jurisdiction to investigate and prosecute violations of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems; specify investment fee and commission reporting to include underlying fund of fund fees; require investment managers failing to disclose investment holdings, fees, and commissions to forfeit any fees or commission paid by KRS; subject investment contracts made by the Kentucky Retirement System to full public disclosure; amend KRS 61.650 to require investment managers to formally adopt the CFA Institute's codes of conduct; require that failure to adhere to the codes result in the forfeiture of any fees or commissions paid by the Kentucky Retirement Systems; make conforming amendments; amend KRS 61.655 to amend conflict-of-interest provisions to prohibit a trustee and employees of the Kentucky Retirement Systems from having a contractual agreement with or interest in any entities providing services to the systems and from receiving, directly or indirectly, any interest, fees, or profit from entities that provide services to the Kentucky Retirement Systems; require trustees, members of the General Assembly, and public servants to adhere to relevant conflict-of-interest provisions during tenure and for five years following termination; require trustees and employees of the Kentucky Retirement Systems to file annual conflict-of-interest statements with the Kentucky Retirement Systems beginning on January 1, 2019; amend KRS 61.990 to provide that a knowing violation of the ethical and fiduciary duties of trustees and investment managers for the Kentucky Retirement Systems is a Class D felony.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 6
Sponsor	J. Kay
Summary	Make title amendment.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 7
Sponsor	L. Belcher
Summary	Delete the enacting clause of SB 151/EN.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 8
Sponsor	L. Belcher
Summary	Delete the enacting clause of SB 151/EN.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 9
Sponsor	L. Belcher
Summary	Delete the enacting clause of SB 151/EN.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 10
Sponsor	L. Belcher
Summary	Make title amendment.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 11
Sponsor	L. Belcher
Summary	Retain original provisions; repeal and reenact all sections of SB 151 as enacted at the 2018 Regular Session of the General Assembly (2018 Ky. Acts ch. 107) amending KRS Chapters 6, 7A, 11A, 16, 18A, 21, 61,78, and 161; repeal all sections of SB 151 as enacted at the 2018 Regular Session of the General Assembly creating new sections of KRS 61.510 to 61.705 and 161.220 to 161.716; provide that SB 151 as enacted at the 2018 Regular Session of the General Assembly is repealed in its entirety and shall have no effect on the laws of the Commonwealth of Kentucky; direct the reviser of statutes that the provisions of this Act shall prevail over SB 151 as enacted at the 2018 Regular Session of the General Assembly, and no part of SB 151 shall be codified in the Kentucky Revised Statutes; EMERGENCY.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 12
Sponsor	L. Belcher
Summary	Retain original provisions; repeal and reenact all sections of SB 151 as enacted at the 2018 Regular Session of the General Assembly (2018 Ky. Acts ch. 107) amending KRS Chapters 6, 7A, 11A, 16, 18A, 21, 61,78, and 161; repeal all sections of SB 151 as enacted at the 2018 Regular Session of the General Assembly creating new sections of KRS 61.510 to 61.705 and 161.220 to 161.716; provide that SB 151 as as enacted at the 2018 Regular Session of the General Assembly is repealed in its entirety and shall have no effect on the laws of the Commonwealth of Kentucky; direct the reviser of statutes that the provisions of this Act shall prevail over SB 151 as enacted at the 2018 Regular Session of the General Assembly, and no part of SB 151 shall be codified in the Kentucky Revised Statutes; EMERGENCY.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials

Amendment	House Floor Amendment 13
Sponsor	L. Belcher
Summary	Make title amendment.
Index Headings	Local Mandate - Reemployment after retirement, restrictions on city elected officials Cities - Reemployment after retirement, restrictions on city elected officials Public Officers and Employees - Reemployment after retirement, restrictions on city elected officials Retirement and Pensions - Reemployment after retirement, restrictions on city elected officials Effective Dates, Emergency - Reemployment after retirement, restrictions on city elected officials Actuarial Analysis - Reemployment after retirement, restrictions on city elected officials