KY HB443 | 2016 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 19 2016 - 25% progression, died in chamber
Action: 2016-03-15 - posting withdrawn
Text: Latest bill text (Draft #1) [PDF]

Summary

Amend KRS 21.525 to provide that beginning with the 2017 actuarial valuation, unfunded liabilities of the Judicial Form Retirement Plan and the Legislators' Retirement Plan shall be amortized over a closed 25- year period, except that: any future legislative changes shall be separately amortized over a closed 20- year period; any future changes in actuarial methods or assumptions shall be amortized over a closed 15-year period; and any future actuarial gains or losses shall be amortized over a 10- year closed period; provide that beginning with the 2017 actuarial valuation, the actuarially accrued liability contribution shall be calculated using the level dollar amortization method.

Tracking Information

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Title

AN ACT relating to financing actuarially accrued pension liabilities.

Sponsors


History

DateChamberAction
2016-03-15Houseposting withdrawn
2016-02-23Houseposted in committee
2016-02-22Houseto State Government (H)
2016-02-19Houseintroduced in House

Kentucky State Sources


Bill Comments

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