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House Bill 694

Actions | Amendments

Last Action	03/12/25: to Rules (H)
Title	AN ACT relating to Teachers' Retirement System benefit funding.
Bill Documents	Current Introduced
Fiscal Impact Statements	Actuarial Analysis Fiscal Note
Bill Request Number	77
Sponsors	J. Petrie, A. Bowling, J. Bray
Summary of Original Version	Create a new section of KRS 161.220 to 161.716, relating to the Teachers' Retirement System (TRS), to require that once the TRS retiree health fund has an actuarial funding level of at least 100%, then the employer funding for retiree health shall be used to pay down the unfunded liability of the TRS pension fund; require that if the actuarial funding level of the TRS retiree health fund falls below 95%, then the employer funding shall be restored to the retiree health fund until the retiree health fund is 100% funded; amend KRS 161.540, 161.550, and 161.675 to provide that the TRS board of trustees shall not recommend changes to the General Assembly to reduce employee or employer funding for retiree health or reduce board adopted charges under the shared responsibility provisions for health benefits for retirees under the age of 65 until the pension and retiree health funds are each 100% funded; amend KRS 161.420 to conform.
Index Headings of Original Version	Retirement and Pensions - Teachers' Retirement System, employer contributions for retiree health benefits, use of funds State Agencies - Teachers' Retirement System, employer contributions for retiree health benefits, use of funds Teachers - Teachers' Retirement System, employer contributions for retiree health benefits, use of funds Budget and Financial Administration - Teachers' Retirement System, employer contributions for retiree health benefits, use of funds Actuarial Analysis - Teachers' Retirement System, employer contributions for retiree health benefits, use of funds Fiscal Note - Teachers' Retirement System, employer contributions for retiree health benefits, use of funds
Jump to Proposed Amendments	Senate Floor Amendment 1 Senate Floor Amendment 2
Votes	Vote History

Actions

Top | Amendments

02/19/25	introduced in House to Committee on Committees (H)
02/21/25	taken from Committee on Committees (H) 1st reading returned to Committee on Committees (H) to Appropriations & Revenue (H)
02/25/25	reported favorably, 2nd reading, to Rules posted for passage in the Regular Orders of the Day for Wednesday, February 26, 2025
02/26/25	3rd reading, passed 77-18
02/27/25	received in Senate to Committee on Committees (S)
03/04/25	to Appropriations & Revenue (S)
03/05/25	reported favorably, 1st reading, to Calendar
03/06/25	2nd reading, to Rules floor amendment (1) filed
03/07/25	posted for passage in the Regular Orders of the Day for Tuesday, March 11, 2025
03/11/25	passed over and retained in the Orders of the Day floor amendment (2) filed
03/12/25	floor amendment withdrawn Floor Amendment (2) 3rd reading passed 28-9 with Floor Amendment (1) received in House to Rules (H)

Proposed Amendments

Top | Actions

Amendment	Senate Floor Amendment 1
Sponsor	A. Mays Bledsoe
Summary	Retain original provisions, except to specify that the Teachers' Retirement System shall not recommend changes to the employee or employer contributions to the retiree health fund until the pension and retiree health funds are fully funded.
Index Headings	Administrative Regulations and Proceedings - Department of Alcoholic Beverage Control Retirement and Pensions - Teachers' Retirement System, employer contributions for retiree health, use of funds State Agencies - Teachers' Retirement System, employer contributions for retiree health, use of funds

Amendment	Senate Floor Amendment 2
Sponsor	J. Higdon
Summary	Retain original provisions; provide that once the TRS retiree health fund has an actuarial funding level of at least 100%, then the 3.75% of pay employee contribution rate for retiree health for nonuniversity employees shall be reduced by 0.5% of pay annually but shall be reduced below 1.75% of pay; require that if the actuarial funding level of the TRS retiree health fund falls below 95%, then the employee contribution rate for retiree health for nonuniversity employees shall be increased 0.5% of pay annually but shall not be increased above 3.75% of pay; require the TRS actuary to establish actuarially equivalent changes to the employee contribution rate for university employees; make conforming amendments.
Index Headings	Fiscal Note - Teachers' Retirement System, employee contributions for retiree health benefits, use of funds Retirement and Pensions - Teachers' Retirement System, employee contributions for retiree health benefits, use of funds State Agencies - Teachers' Retirement System, employee contributions for retiree health benefits, use of funds Teachers - Teachers' Retirement System, employee contributions for retiree health benefits, use of funds Actuarial Analysis - Teachers' Retirement System, employee contributions for retiree health benefits, use of funds Budget and Financial Administration - Teachers' Retirement System, employee contributions for retiree health benefits, use of funds

Last updated: 3/13/2025 1:08 AM (EDT)