Kentucky Senate Bill 2 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 9-0)
Status: Engrossed on February 4 2016 - 50% progression, died in chamber
Action: 2016-04-01 - floor amendment (1) and (2) filed
Text: Latest bill text (Draft #3) [PDF]

Amend KRS 21.540 to require the Legislators' Retirement Plan and Judicial Retirement Plan to follow the provisions of KRS Chapters 45, 45A, 56, and 57 regarding procurement of services, goods, and property; provide that no funds of the Legislators' Retirement Plan or Judicial Retirement Plan shall be used to pay placement agents; amend KRS 61.645 to require Senate confirmation of, and modify the minimum requirements for, gubernatorial appointees to the Kentucky Retirement Systems board of trustees and for the executive director; require the Kentucky Retirement Systems to follow the provisions of KRS Chapters 45, 45A, 56, and 57 regarding budgeting and the procurement of services, goods, and property; require the Kentucky Retirement Systems to disclose on its Web site and upon request investment fees in addition to investment holdings and commissions; require the Kentucky Retirement Systems to disclose on its Web site and upon request all contracts and offering documents for services, goods, or property purchased or utilized by the systems; provide that no funds of the Kentucky Retirement Systems shall be used to pay placement agents; amend KRS 61.650 to provide that the Kentucky Retirement Systems board, staff, and investment advisors shall adhere to the CFA Institute's codes of conduct; amend KRS 161.250 to increase by six the number of trustees on the Kentucky Teachers' Retirement System board of trustees, two of whom shall have investment experience, to be appointed by the Governor subject to Senate confirmation; require Kentucky Teachers' Retirement System to disclose on its Web site and upon request investment fees in addition to investment holdings and commissions; require the Kentucky Teachers' Retirement System to disclose on its Web site and upon request all contracts and offering documents for services, goods, or property purchased or utilized by the systems; amend KRS 161.340 to require the Kentucky Teachers' Retirement System to follow the provisions of KRS Chapters 45, 45A, 56, and 57 regarding budgeting and the procurement of services, goods, and property; amend KRS 161.430 to provide that the Kentucky Teachers' Retirement System's board, staff, and investment advisors shall adhere to the CFA Institute's codes of conduct; provide that no funds of the Kentucky Teachers' Retirement System shall be used to pay placement agents; provide that the amendments in the Act requiring the state-administered retirement systems to be subject to state procurement laws and banning the use of system assets to pay placement agents shall apply to contracts established or renewed on or after July 1, 2016; provide that amendments in the Act requiring Senate confirmation and modifying the requirements for gubernatorial appointments to the Kentucky Retirement Systems' board shall apply to appointments or reappointments made on or after the effective date of the Act; provide that amendments requiring Senate confirmation of executive director and executive secretary shall apply to appointments or employments after the effective date of the Act; provide a transition schedule of appointments of new trustees to the Kentucky Teachers' Retirement System board.

AN ACT relating to retirement.

Sen. Joe Bowen [R]	Sen. Chris Girdler [R]	Sen. Paul Hornback [R]	Sen. Christian McDaniel [R]
Sen. Wil Schroder [R]	Sen. Dan Seum [R]	Sen. Damon Thayer [R]	Sen. Whitney Westerfield [R]
Sen. Mike Wilson [R]

Date	Chamber	Action
2016-04-01	House	floor amendment (1) and (2) filed
2016-03-24	House	posted for passage in the Regular Orders of the Day for Friday, March 25, 2016
2016-03-18	House	2nd reading, to Rules
2016-03-17	House	reported favorably, 1st reading, to Calendar
2016-03-15	House	posted in committee
2016-02-08	House	to State Government (H)
2016-02-04	House	received in House
2016-02-02	Senate	3rd reading, passed 38-0 with Committee Substitute (1), committee amendment (1-title), floor amendments (1), (2)
2016-02-01	Senate	floor amendments (1), (2) filed to Committee Substitute
2016-02-01	Senate	posted for passage in the Regular Orders of the Day for Tuesday, February 2
2016-01-28	Senate	2nd reading, to Rules
2016-01-27	Senate	reported favorably, 1st reading, to Calendar with Committee Substitute and committee title amendment
2016-01-07	Senate	to State & Local Government (S)
2016-01-06	Senate	introduced in Senate

Type	Source
Summary	http://www.lrc.ky.gov/record/16RS/SB2.htm
Text	http://www.lrc.ky.gov/record/16RS/SB2/bill.pdf
Amendment	http://www.lrc.ky.gov/record/16RS/SB2/SCS1.pdf
Amendment	http://www.lrc.ky.gov/record/16RS/SB2/SCA1.pdf
Amendment	http://www.lrc.ky.gov/record/16RS/SB2/SFA1.pdf
Amendment	http://www.lrc.ky.gov/record/16RS/SB2/SFA2.pdf
Amendment	http://www.lrc.ky.gov/record/16RS/SB2/HFA1.pdf
Amendment	http://www.lrc.ky.gov/record/16RS/SB2/HFA2.pdf
Supplement	http://www.lrc.ky.gov/record/16RS/SB2/vote_history.pdf