House Bill 328

Actions
Last Action 02/18/20: posting withdrawn
Title AN ACT relating to financing actuarially accrued pension liabilities of the plans administered by the Judicial Form Retirement System.
Bill Documents Introduced
Fiscal Impact Statement Actuarial Analysis
Bill Request Number 1352
Sponsor J. Nemes
Summary of Original Version Amend KRS 21.525 to provide that beginning with the 2021 actuarial valuation, unfunded liabilities of the Judicial Retirement Plan and the Legislators' Retirement Plan shall be amortized over a closed 25- year period, except that: any future legislative changes shall be separately amortized over a closed 20- year period; any future changes in actuarial methods or assumptions shall be amortized over a closed 15-year period; and any future actuarial gains or losses shall be amortized over a 15- year closed period; provide that beginning with the 2021 actuarial valuation, the actuarially accrued liability contribution shall be calculated using the level dollar amortization method.
Index Headings of Original Version General Assembly - Retirement, new amortization method for paying off unfunded liabilities to LRP
Public Officers and Employees - Judicial Form Retirement System, new amortization method for paying off unfunded liabilities
Retirement and Pensions - Judicial Form Retirement System, new amortization method for paying off unfunded liabilities
Actuarial Analysis - Judicial Form Retirement System, new amortization method for paying off unfunded liabilities

Actions

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01/27/20
  • introduced in House
01/29/20
  • to State Government (H)
02/04/20
  • posted in committee
02/18/20
  • posting withdrawn


Last updated: 10/27/2020 12:10 PM (EDT)
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