KY HB104 | 2020 | Regular Session

Status

Spectrum: Slight Partisan Bill (Democrat 6-3)
Status: Introduced on January 7 2020 - 25% progression
Action: 2020-02-20 - floor amendment (1) filed to Committee Substitute
Text: Latest bill text (Introduced) [PDF]

Summary

Amend KRS 61.542 to allow a retiree who experiences a qualifying event, including marriage, remarriage, the birth or adoption of a child, or the death of a designated beneficiary, to elect to change his or her beneficiary and optional payment plan provided the election is made within 120 days of the qualifying event on a form prescribed by the Kentucky Retirement Systems and provide that in the case of a divorce, annulment, or dissolution of marriage, the retiree's estate shall become the beneficiary; amend KRS 61.590, 61.615, and 61.630 to conform; amend KRS 161.630 to expand the qualifying events for which a retiree may elect to change his or her beneficiary and optional payment plan to include a birth or adoption of a child in addition to marriage, remarriage, and the death of a beneficiary, require that the election be made within 120 days of the qualifying event on a form prescribed by the Teachers' Retirement System, and make technical corrections; amend KRS 161.480 to conform.

Tracking Information

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Title

AN ACT relating to changing beneficiaries after retirement in state-administered retirement systems.

Sponsors


History

DateChamberAction
2020-02-20Housefloor amendment (1) filed to Committee Substitute
2020-02-19Houseposted for passage in the Regular Orders of the Day for Thursday, February 20, 2020
2020-02-14House2nd reading, to Rules
2020-02-13Housereported favorably, 1st reading, to Calendar with Committee Substitute (1)
2020-01-13Houseposted in committee
2020-01-07Houseto State Government (H)
2020-01-07Houseintroduced in House
2019-11-18HousePrefiled by the sponsor(s).

Subjects


Kentucky State Sources


Bill Comments

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