22RS HB 266

House Bill 266

Actions

Last Action	01/10/22: to Committee on Committees (H)
Title	AN ACT relating to recontribution of a refund in the retirement systems.
Bill Documents	Introduced
Fiscal Impact Statements	Actuarial Analysis Local Mandate
Bill Request Number	1074
Sponsors	D. Frazier Gordon, J. Bray, J. Blanton, B. McCool
Summary of Original Version	Amend KRS 61.552 to provide that recontributions of a refund to the Kentucky Employees Retirement System, County Employees Retirement System, and the State Police Retirement System, made on or before January 1, 2023, shall be used to determine a member's participation date in the systems; make retroactive back to January 1, 2014, and provide that recontributions of a refund made on or after January 1, 2014, and prior to the effective date of this Act, shall be used to determine a member's participation date in the system unless the member instructs the systems by January 1, 2023, to not use the service to determine their participation date in the systems; RETROACTIVE.
Index Headings of Original Version	Actuarial Analysis - Kentucky Public Pensions Authority, recontribution of refund to determine participation date Local Mandate - Kentucky Public Pensions Authority, recontribution of refund to determine participation date Public Officers and Employees - Retirement, recontribution of refund to determine participation date for purposes of benefits Retirement and Pensions - Kentucky Public Pensions Authority, recontribution of refund to determine participation date State Agencies - Kentucky Public Pensions Authority, recontribution of refund to determine participation date Retroactive Legislation - Kentucky Public Pensions Authority, recontribution of refund to determine participation date