Kentucky House Bill 328 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 11 2013 - 25% progression, died in committee
Action: 2013-02-12 - to State Government (H)
Pending: House State Government Committee
Text: Latest bill text (Draft #1) [MS Word]

Amend KRS 6.520 to have pensions for members who begin contributing to the Legislators' Retirement Plan on or after July 1, 2013, based upon the member's highest 5 years of salary rather than the member's highest 3 years of salary; allow members participating in the Legislators' Retirement Plan prior to July 1, 2013, to make a one-time election to have their benefits based upon the member's highest 5 years of salary rather than the member's highest 3 years of salary; Amend KRS 6.525 to prohibit members of the Legislators' Retirement Plan, who begin contributing on or after July 1, 2013, from using salary earned in another state-administered retirement system or plan to calculate benefits in the Legislators' Retirement Plan; allow members of the Legislators' Retirement Plan contributing to the plan prior to July 1, 2013, to make a one-time election to have their benefits from the Legislators' Retirement Plan based solely on their legislative salary.

AN ACT relating to legislative retirement.

Rep. Mitchel Denham [D]

Date	Chamber	Action
2013-02-12	House	to State Government (H)
2013-02-11	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/13RS/HB328.htm
Text	http://www.lrc.ky.gov/record/13RS/HB328/bill.doc