24RS HB 20

House Bill 20

Actions

Last Action	01/02/24: to Committee on Committees (H)
Title	AN ACT relating to a cost-of-living increase to the retirement benefits for retired state employees, making an appropriation therefor, and declaring an emergency.
Bill Documents	Introduced
Fiscal Impact Statement	Actuarial Analysis
Bill Request Number	1051
Sponsors	R. Palumbo, C. Aull, T. Bojanowski, G. Brown Jr., L. Burke, E. Callaway, A. Camuel, B. Chester-Burton, A. Gentry, N. Kulkarni, W. Lawrence, J. Raymond, R. Roarx, S. Stalker, C. Stevenson
Summary of Original Version	Appropriate $227 million, $17 million, and $17 million in fiscal year 2024-2025 to the Kentucky Public Pensions Authority to fund a one-time two percent cost-of-living adjustment effective July 1, 2024, for Kentucky Employees Retirement System nonhazardous and hazardous duty recipients, and for State Police Retirement System recipients, respectively; APPROPRIATION; EMERGENCY.
Index Headings of Original Version	Actuarial Analysis - Kentucky Retirement Systems, cost-of-living adjustments for retirees Effective Dates, Emergency - Cost-of-living adjustment for Kentucky Retirement Systems retirees, July 1, 2024 Retirement and Pensions - Kentucky Retirement Systems, cost-of-living adjustment for retirees Budget and Financial Administration - Kentucky Retirement Systems, cost-of-living adjustment for retirees Appropriations - Cost-of-living adjustment for Kentucky Employees Retirement System and SPRS retirees Police, State - Kentucky Retirement Systems, cost-of-living adjustment for retirees State Employees - Kentucky Retirement Systems, cost-of-living adjustment for retirees