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Senate Bill 66

Actions | Amendments
Last Action recommitted to Appropriations & Revenue (S)
Title AN ACT relating to retirement.
Bill Documents Current/Final
Introduced
Impact Statements Fiscal Note
Bill Request Number 846
Sponsors C. McDaniel, W. Schroder
Summary of Original Version Amend KRS 61.530 to insert gender-neutral language.
Index Headings of Original Version Fiscal Note - Kentucky Employees Retirement System, election to participate, gender-neutral language
Retirement and Pensions - Kentucky Employees Retirement System, election to participate, gender-neutral language
State Agencies - Kentucky Retirement Systems, KERS election to participate, gender-neutral language
State Employees - Kentucky Employees Retirement System, election to participate, gender-neutral language
Proposed Amendments Senate Committee Substitute 1
Senate Committee Amendment 1

Actions

Top | Amendments
01/04/18
  • introduced in Senate
01/05/18
  • to Appropriations & Revenue (S)
02/27/18
  • reported favorably, 1st reading, to Calendar with Committee Substitute (1) and committee amendment (1-title)
02/28/18
  • 2nd reading, to Rules
03/12/18
  • taken from Rules
  • recommitted to Appropriations & Revenue (S)

Proposed Amendments

Top | Actions
Amendment Senate Committee Substitute 1
Impact Statements Actuarial Analysis
Summary 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.
Index Headings Fiscal Note - Kentucky Employees Retirement System, election to participate, gender-neutral language
Retirement and Pensions - Kentucky Employees Retirement System, election to participate, gender-neutral language
State Agencies - Kentucky Retirement Systems, KERS election to participate, gender-neutral language
State Employees - Kentucky Employees Retirement System, election to participate, gender-neutral language

Amendment Senate Committee Amendment 1
Sponsor C. McDaniel
Summary Make title amendment.
Index Headings Fiscal Note - Kentucky Employees Retirement System, election to participate, gender-neutral language
Retirement and Pensions - Kentucky Employees Retirement System, election to participate, gender-neutral language
State Agencies - Kentucky Retirement Systems, KERS election to participate, gender-neutral language
State Employees - Kentucky Employees Retirement System, election to participate, gender-neutral language

Last updated: 1/16/2019 3:00 PM (EST)