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Senate Bill 107

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Last Action 03/22/19: signed by Governor (KY Acts ch. 048)
Title AN ACT relating to automatic enrollment in the Kentucky Public Employees Deferred Compensation Authority plans.
Bill Documents Acts Chapter 48
Current/Final
Introduced
Bill Request Number 944
Sponsor J. Higdon
Summary of Original Version Amend KRS 18A.250 to provide that employees of the executive, legislative, or judicial branches of Kentucky state government hired on or after July 1, 2019, shall be automatically enrolled in the 401(k) voluntary retirement plan with a monthly employee contribution of $30 per month; provide that the employee shall continue to contribute to the plan unless or until the employee makes an election to change the contribution; provide that the Kentucky Public Employees Deferred Compensation Authority board shall have the authority to select default investment options and amend the 401(k) plan as needed to implement automatic enrollment; require the Kentucky Public Employees Deferred Compensation Authority to report to the Public Pension Oversight Board by December 31, 2019, on the development of the automatic enrollment provisions and options to improve participation in the plans.
Index Headings of Original Version Retirement and Pensions - Kentucky deferred compensation, automatic enrollment in optional 401(k) plan for new hires
State Agencies - Kentucky deferred compensation, automatic enrollment in optional 401(k) plan for new hires
State Employees - Kentucky deferred compensation, automatic enrollment in optional 401(k) plan for new hires
Votes Vote History

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02/05/19
  • introduced in Senate
02/08/19
  • to State & Local Government (S)
02/13/19
  • reported favorably, 1st reading, to Calendar
02/14/19
  • 2nd reading, to Rules
02/19/19
  • posted for passage in the Regular Orders of the Day for Wednesday, February 20, 2019
02/20/19
  • 3rd reading, passed 35-0
02/21/19
  • received in House
02/22/19
  • to State Government (H)
02/26/19
  • posted in committee
02/28/19
  • reported favorably, 1st reading, to Calendar
03/01/19
  • 2nd reading, to Rules
03/06/19
  • posted for passage in the Regular Orders of the Day for Thursday, March 7, 2019
03/12/19
  • 3rd reading, passed 93-2
03/13/19
  • received in Senate
  • enrolled, signed by President of the Senate
  • enrolled, signed by Speaker of the House
  • delivered to Governor
03/22/19
  • signed by Governor (KY Acts ch. 048)


Last updated: 11/9/2023 3:08 PM (EST)