House Bill 457

Actions
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
Impact Statements 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

Actions

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02/20/19
  • introduced in House
02/21/19
  • to State Government (H)


Last updated: 5/10/2019 10:34 AM (EDT)
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