| Title | AN ACT relating to changing beneficiaries after retirement in state-administered retirement systems. |
|---|---|
| Bill Documents | Original |
| Sponsors | B. Wheatley |
| Summary of Original Version | Amend KRS 61.542 to allow a retiree who experiences a qualifying event, including marriage, remarriage, the birth or adoption of a child, or the death of a designated beneficiary, to elect to change his or her beneficiary and optional payment plan provided the election is made within 120 days of the qualifying event on a form prescribed by the Kentucky Retirement Systems and provide that in the case of a divorce, annulment, or dissolution of marriage, the retiree's estate shall become the beneficiary; amend KRS 61.590, 61.615, and 61.630 to conform; amend KRS 161.630 to expand the qualifying events for which a retiree may elect to change his or her beneficiary and optional payment plan to include a birth or adoption of a child in addition to marriage, remarriage, and the death of a beneficiary, require that the election be made within 120 days of the qualifying event on a form prescribed by the Teachers' Retirement System, and make technical corrections; amend KRS 161.480 to conform. |
| Index Headings |
Retirement and Pensions - Kentucky Retirement Systems, post-retirement change of beneficiary and option, qualifying events for State Employees - Kentucky Retirement Systems, post-retirement change of beneficiary and option, qualifying events for Teachers - Teachers' Retirement System, post-retirement change of beneficiary and option, qualifying events for |
| 11/18/19 | Prefiled by the sponsor(s). |
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Last updated: 1/6/2020 3:52 PM (EST)
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