Kentucky House Bill 406 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 23-0)
Status: Introduced on February 20 2018 - 25% progression, died in committee
Action: 2018-02-22 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [PDF]

Amend KRS 61.565 to establish a phase-in of the actuarially required employer contributions to the County Employees Retirement System (CERS) so that by July 1, 2024, the full actuarially required contribution rate is paid; provide that the maximum annual increase in projected dollars paid shall not exceed 10% of the value from the prior fiscal year through June 30, 2023, provide that rates payable by CERS employers from July 1, 2018, to June 30, 2023; shall be based upon the assumptions established in the 2017 actuarial valuation; require the systems' board of trustees to amend employer rates payable on or after July 1, 2018, accordingly; EMERGENCY.

AN ACT relating to employer funding for the County Employees Retirement System and declaring an emergency.

Rep. Rocky Adkins [D]	Rep. George Brown [D]	Rep. Thomas Burch [D]	Rep. McKenzie Cantrell [D]
Rep. Jeffery Donohue [D]	Rep. Kelly Flood [D]	Rep. Alan Gentry [D]	Rep. Derrick Graham [D]
Rep. Chris Harris [D]	Rep. Joni Jenkins [D]	Rep. Dennis Keene [D]	Rep. Mary Marzian [D]
Rep. Russ Meyer [D]	Rep. Charles Miller [D]	Rep. Rick Nelson [D]	Rep. Sannie Overly [D]
Rep. Rick Rand [D]	Rep. Jody Richards [D]	Rep. Steven Riggs [D]	Rep. Arnold Simpson [D]
Rep. John Sims [D]	Rep. Wilson Stone [D]	Rep. Jim Wayne [D]

Date	Chamber	Action
2018-02-22	House	to Appropriations & Revenue (H)
2018-02-20	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/18RS/HB406.htm
Text	http://www.lrc.ky.gov/recorddocuments/bill/18RS/HB406/bill.pdf
Supplement	http://www.lrc.ky.gov/recorddocuments/note/18RS/HB406/FN.pdf