26RS HB 406

House Bill 406

Actions

Last Action	01/15/26: to Committee on Committees (H)
Title	AN ACT relating to a supplemental payment for recipients of a monthly retirement allowance from the systems administered by the Kentucky Public Pensions Authority, making an appropriation therefor, and declaring an emergency.
Bill Documents	Introduced
Bill Request Number	1542
Sponsors	J. Tipton, J. Blanton
Summary of Original Version	Appropriate $96 million from the Kentucky Permanent Pension Fund in fiscal year 2026-2027 to the Kentucky Public Pensions Authority to fund 1-time supplemental payments on July 1, 2026, to recipients of a retirement allowance who have been retired for at least 12 months from the Kentucky Employees Retirement System (KERS) and the State Police Retirement System (SPRS); allow the Board of Trustees of the County Employees Retirement System to, by board decision, provide a one-time supplemental payment to recipients of a retirement allowance who have been retired at least 12 months by increasing employer contribution rates over a one-year or two-year period; specify that the 1-time supplemental payment shall be equal to the monthly payment received by the recipient in the month of June 2026; APPROPRIATION; EMERGENCY.
Index Headings of Original Version	Appropriations - Kentucky Public Pensions Authority, supplemental payment for KERS and SPRS retirees Counties - Kentucky Public Pensions Authority, supplemental payment for CERS retirees Effective Dates, Emergency - Supplemental payment for KERS and SPRS retirees, appropriation Retirement And Pensions - Kentucky Public Pensions Authority, supplemental payment for retirees State Agencies - Kentucky Public Pensions Authority, supplemental payment for retirees Budget And Financial Administration - Kentucky Public Pensions Authority, supplemental payment for retirees Cities - Kentucky Public Pensions Authority, supplemental payment for CERS retirees Education, Elementary And Secondary - Kentucky Public Pensions Authority, supplemental payment for CERS retirees Local Government - Kentucky Public Pensions Authority, supplemental payment for CERS retirees Police, State - Retirement System, supplemental payment for retirees Special Districts - Kentucky Public Pensions Authority, supplemental payment for CERS retirees Special Purpose Governmental Entities - Kentucky Public Pensions Authority, supplemental payment for CERS retirees State Employees - Supplemental payment for KERS and SPRS retirees, appropriation