Kentucky Senate Bill 142 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Engrossed on February 28 2014 - 50% progression, died in chamber
Action: 2014-03-11 - taken from the Consent Orders of the Day, placed in the Regular Orders of the Day
Text: Latest bill text (Draft #2) [MS Word]

Create a new section of KRS Chapter 21 to provide that members of the Legislators' Retirement Plan or Judicial Retirement Plan who retire on or after January 1, 2015, shall be limited to a 10% growth in the creditable compensation earned during their last five years of employment if that compensation is used to calculate their retirement benefits; provide that only creditable compensation earned on or after July 1, 2014, shall be subject to the creditable compensation growth limitations; exempt lump-sum payments for compensatory time from the compensation growth limitation; exempt from the compensation growth limitation those years of compensation where in the immediately preceding fiscal year the member had 5 weeks of paid worker's compensation benefits or 5 weeks of unpaid maternity, FMLA, or approved sick leave; exempt bona fide promotions or salary advancements from the compensation growth limitation; define "bona fide promotion or salary advancements" as a professional advancement in substantially the same line of work held by the member in the 4 years immediately prior to the 5-year period or a change in employment position based upon training, education or expertise; provide that a bona fide promotion or salary advancement does not include situations where a legislator or judge takes a position of employment with a different employer participating in any of the state-administered retirement systems; provide that the Judicial Form Retirement System shall refund contributions and interest on contributions, for any reductions in creditable compensation provided by this section; provide that the Judicial Form Retirement System shall determine what constitutes a bona fide promotion or salary advancement and allow the member to appeal a decision of the system to the full board of trustees; amend KRS 61.598 to provide that members of the Kentucky Employees Retirement System, the County Employees Retirement System, and the State Police Retirement System, who retire on or after January 1, 2015, shall be limited to a 10% growth in the creditable compensation earned during their last five years of employment if that compensation is used to calculate their retirement benefits; provide that only creditable compensation earned on or after July 1, 2014, shall be subject to the creditable compensation growth limitations; exempt lump-sum payments for compensatory time from the compensation growth limitation; exempt from the compensation growth limitation those years of compensation where in the immediately preceding fiscal year the member had 5 weeks of paid worker's compensation benefits or 5 weeks of unpaid maternity, FMLA, or approved sick leave; exempt bona fide promotions or salary advancements from the compensation growth limitation; provide that the Kentucky Retirement Systems shall refund contributions and interest on contributions, for any reductions in creditable compensation provided by this section; provide that the Kentucky Retirement Systems shall determine what constitutes a bona fide promotion or salary advancement and allow the member to appeal a decision of the system to the board; remove provisions charging employers for creditable compensation growth greater than 10% during the employee's last five years of employment; amend KRS 6.525, 16.645, 61.645, and 78.545 to conform.

AN ACT relating to retirement benefit spiking.

Sen. Christian McDaniel [R]

Sen. Damon Thayer [R]

Date	Chamber	Action
2014-03-11	House	taken from the Consent Orders of the Day, placed in the Regular Orders of the Day
2014-03-11	House	posted for passage in the Consent Orders of the Day for Thursday, March 13, 2014
2014-03-07	House	2nd reading, to Rules
2014-03-06	House	reported favorably, 1st reading, to Consent Calendar
2014-03-04	House	posted in committee
2014-03-04	House	to State Government (H)
2014-02-28	House	received in House
2014-02-27	Senate	3rd reading, passed 35-2
2014-02-27	Senate	posted for passage in the Regular Orders of the Day for Thursday, February 27, 2014
2014-02-26	Senate	reported favorably, 2nd reading, to Rules
2014-02-25	Senate	returned to State & Local Government (S)
2014-02-25	Senate	1st reading
2014-02-25	Senate	taken from State & Local Government (S)
2014-02-18	Senate	to State & Local Government (S)
2014-02-14	Senate	introduced in Senate

Type	Source
Summary	http://www.lrc.ky.gov/record/14RS/SB142.htm
Text	http://www.lrc.ky.gov/record/14RS/SB142/bill.doc
Supplement	http://www.lrc.ky.gov/record/14RS/SB142/vote_history.pdf