| Last Action | 02/21/19: to State Government (H) |
|---|---|
| Title | AN ACT relating to retirement benefit participation for members of the General Assembly and declaring an emergency. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Actuarial Analysis |
| Bill Request Number | 395 |
| Sponsor | R. Goforth |
| Summary of Original Version | Create a new section of KRS 6.145 to 6.237 to allow individuals who become members of the General Assembly on or after April 1, 2019, to make a one-time irrevocable election to not participate in the Legislators' Retirement Plan or the Kentucky Employees Retirement System for their service to the General Assembly; allow members of the General Assembly who began contributing to the Legislators' Retirement Plan or the Kentucky Employees Retirement System prior to April 1, 2019, to make a one-time irrevocable election by December 31, 2019, to discontinue participation in the Legislators' Retirement Plan or the Kentucky Employees Retirement System for their service to the General Assembly and receive a refund of accumulated contributions; provide that the election to not participate or discontinue participation in the Legislators' Retirement Plan or the Kentucky Employees Retirement System applies to all future service of the General Assembly; amend KRS 6.505, 61.510, and 61.525 to conform; EMERGENCY. |
| Index Headings of Original Version |
Effective Dates, Emergency - Legislators, election to discontinue or not participate in retirement General Assembly - Retirement, election to discontinue or not participate in LRP or KERS for legislative service Public Officers and Employees - Legislators, election to discontinue or not participate in LRP or KERS for service Retirement and Pensions - Kentucky Retirement Systems, election to discontinue or not participate for General Assembly service Retirement and Pensions - Legislators' Retirement Plan, election to discontinue or not participate for service Actuarial Analysis - Legislators' Retirement Plan, election to discontinue or not participate for service |
| 02/20/19 |
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| 02/21/19 |
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Last updated: 11/9/2023 3:07 PM (EST)