| Last Action | 03/04/20: to State Government (H) |
|---|---|
| Title | AN ACT relating to employees of agencies who cease participation in the Kentucky Retirement Systems. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Actuarial Analysis |
| Bill Request Number | 464 |
| Sponsor | R. Goforth |
| Summary of Original Version | Amend KRS 61.595 and 61.559 to provide that vested Tier I and Tier II employees of an employer who, has ceased participation in the Kentucky Employees Retirement System (KERS) who based upon the employer's choice are no longer eligible to participate in KERS and are required to participate in an alternative retirement plan following the agency's cessation date, can use service credit earned in an alternative retirement to plan determine eligibility for retirement benefits from KERS, but not the amount of benefits, and for purposes of reducing early retirement penalties in the system. |
| Index Headings of Original Version |
Retirement and Pensions - KERS agency cessation, service in alternative plan counts towards KRS ret. eligibility, allow State Agencies - Kentucky Retirement Systems, alt. plan service after agency cessation counts for ret. eligibility State Employees - KERS agency cessation, service in alternative plan counts towards KRS ret. eligibility, allow Actuarial Analysis - KERS agency cessation, service in alternative plan counts towards KRS ret. eligibility, allow |
| 03/02/20 |
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|---|---|
| 03/04/20 |
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Last updated: 10/27/2020 12:10 PM (EDT)
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