Kentucky Senate Bill 249 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 8 2020 - 100% progression
Action: 2020-04-08 - signed by Governor (Acts Ch. 82)
Text: Latest bill text (Enrolled) [PDF]

Amend KRS 61.565 to reset amortization period to a new 30-year period effective with the 2019 valuation; establish layered amortization method by requiring any increase or decrease in actuarially accrued liability after the 2019 valuation to be amortized over separate 20-year closed periods beginning with the valuation in which the increase or decrease is first recognized; amend KRS 61.510 to remove the definition of "level dollar amortization method" and define "level percentage of payroll amortization method"; provide that Kentucky Retirement Systems shall amend the 2019 actuarial valuation in accordance with the amendments to KRS 61.565 in this Act and provide updated employer contributions to the Governor and General Assembly; provide that CERS employer rate phase in is paused for one year period; EMERGENCY.

AN ACT relating to retirement and declaring an emergency.

Sen. Christian McDaniel [R]

2020-04-01 - Senate - Senate: Third Reading W/hfa3, hfta4 FINAL PASSAGE RSN# 1430 (Y: 33 N: 0 NV: 0 Abs: 5) [PASS]
2020-04-01 - House - House: Third Reading RCS# 327 (Y: 89 N: 1 NV: 0 Abs: 10) [PASS]
2020-03-17 - Senate - Senate: Third Reading RSN# 1349 (Y: 34 N: 0 NV: 0 Abs: 4) [PASS]

Date	Chamber	Action
2020-04-08	Senate	signed by Governor (Acts Ch. 82)
2020-04-01	Senate	delivered to Governor
2020-04-01	Senate	enrolled, signed by Speaker of the House
2020-04-01	Senate	enrolled, signed by President of the Senate
2020-04-01	Senate	passed 33-0
2020-04-01	Senate	Senate concurred in House floor amendments (3) and (4-title)
2020-04-01	Senate	posted for passage for concurrence in House floor amendments (3) and (4-title)
2020-04-01	Senate	to Rules (S)
2020-04-01	Senate	received in Senate
2020-04-01	House	3rd reading, passed 89-1 with floor amendments (3) and (4-title)
2020-04-01	House	floor amendments (3) and (4-title) filed
2020-04-01	House	placed in the Orders of the Day for Wednesday, April 1, 2020
2020-04-01	House	taken from Rules (H)
2020-03-26	House	floor amendment (1) filed to Committee Substitute , floor amendment (2-title) filed to bill
2020-03-19	House	reported favorably, 2nd reading, to Rules with Committee Substitute (1)
2020-03-18	House	posting waived
2020-03-18	House	to Appropriations & Revenue (H)
2020-03-18	House	1st reading
2020-03-18	House	taken from Committee on Committees (H)
2020-03-18	House	received in House
2020-03-17	Senate	3rd reading, passed 34-0
2020-03-17	Senate	posted for passage in the Consent Orders of the Day for Tuesday, March 17, 2020
2020-03-12	Senate	2nd reading, to Rules
2020-03-11	Senate	reported favorably, 1st reading, to Consent Calendar
2020-03-05	Senate	to State & Local Government (S)
2020-03-03	Senate	introduced in Senate

Type	Source
Summary	https://apps.legislature.ky.gov/record/20RS/sb249.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/20RS/sb249/orig_bill.pdf
Text	https://apps.legislature.ky.gov/recorddocuments/bill/20RS/sb249/bill.pdf
Supplement	https://apps.legislature.ky.gov/recorddocuments/note/20RS/sb249/LM.pdf
Roll Call	https://apps.legislature.ky.gov/record/20RS/sb249/vote_history.pdf
Supplement	https://apps.legislature.ky.gov/recorddocuments/note/20RS/sb249/HCS1LM.pdf