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Senate Bill 79

Actions | Amendments

Last Action	03/24/21: signed by Governor (Acts Ch. 111)
Title	AN ACT relating to the Kentucky Public Employees Deferred Compensation Authority plans.
Bill Documents	Acts Chapter 111 Current/Final Introduced
Bill Request Number	1162
Sponsor	J. Higdon
Summary of Original Version	Repeal, reenact, and amend KRS 18A.245 and repeal and reenact KRS 18A.262 to establish conflict of interest provisions for trustees of the Kentucky Public Employees' Deferred Compensation Authority; amend KRS 18A.230 and 18A.255 to define financial planning, further provide guidance on advice provided to participants, and authorize the promulgation of administrative regulations; amend KRS 18A.250 to clarify auto enrollment provisions and authorize the promulgation of administrative regulations for implementation.
Index Headings of Original Version	Retirement and Pensions - Kentucky deferred compensation, financial planning Retirement and Pensions - Kentucky deferred compensation, conflicts of interest, prohibition State Agencies - Kentucky deferred compensation, financial planning State Employees - Kentucky deferred compensation, financial planning
Jump to Proposed Amendments	Senate Committee Substitute 1 Senate Floor Amendment 1
Votes	Vote History

Actions

Top | Amendments

01/06/21	introduced in Senate to Committee on Committees (S)
02/02/21	to State & Local Government (S)
02/24/21	reported favorably, 1st reading, to Calendar with Committee Substitute floor amendment (1) filed to Committee Substitute
02/25/21	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Monday, March 1, 2021
03/01/21	3rd reading, passed 35-0 with Committee Substitute and floor amendment (1)
03/02/21	received in House to Committee on Committees (H)
03/11/21	taken from Committee on Committees (H) 1st reading returned to Committee on Committees (H) to State Government (H) posted in committee
03/12/21	reported favorably, 2nd reading, to Rules posted for passage in the Regular Orders of the Day for Monday, March 15, 2021
03/15/21	3rd reading, passed 96-0 received in Senate enrolled, signed by President of the Senate enrolled, signed by Speaker of the House delivered to Governor
03/24/21	signed by Governor (Acts Ch. 111)

Proposed Amendments

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Amendment	Senate Committee Substitute 1
Summary	Retain orginal provisions; amend KRS 18A.250 to auto enroll members of the General Assembly and justices and judges of the Kentucky courts in office on July 1, 2021, and thereafter, in the deferred compensation 401(k) plan; deduct $30 per month from the compensation of members, justices, and judges auto enrolled and contribute as a pre-tax deferral to the 401(k) plan, unless the enrollee opts out or changes the deferral; and exempt from auto enrollment members, justices, or judges who are already enrolled in the 401(k) plan and special judges.
Index Headings	Judges and Court Commissioners - Kentucky deferred compensation, auto enrollment Retirement and Pensions - Kentucky deferred compensation, financial planning State Agencies - Kentucky deferred compensation, financial planning State Employees - Kentucky deferred compensation, financial planning General Assembly - Kentucky deferred compensation, financial planning

Amendment	Senate Floor Amendment 1
Sponsor	J. Higdon
Summary	Make auto enrollment in deferred compensation plan applicable to only new legislators, justices, and judges elected or appointed on or after July 1, 2021.
Index Headings	Judges and Court Commissioners - Kentucky deferred compensation, auto enrollment Retirement and Pensions - Kentucky deferred compensation, auto enrollment of new legislators, justices, and judges General Assembly - Kentucky deferred compensation, auto enrollment

Last updated: 11/9/2023 2:52 PM (EST)