KY SB27 | 2018 | Regular Session

Status

Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on January 2 2018 - 25% progression
Action: 2018-01-03 - to State & Local Government (S)
Pending: Senate State & Local Government Committee
Text: Latest bill text (Draft #1) [PDF]

Summary

Create a new section of KRS 6.145 to 6.237 to allow an individual who becomes a member of the General Assembly on or after the effective date of the Act to make a one-time irrevocable election to not participate in the Legislators' Retirement Plan or the Kentucky Employees Retirement System for his or her service to the General Assembly; allow an individual who has not yet met the requirements for vesting to make a one-time irrevocable election within 60 days of the effective date of this Act to discontinue participation in the Legislators' Retirement Plan or the Kentucky Employees Retirement System for his or her service to the General Assembly and receive a refund of his or her accumulated account balance; provide that the election to not participate or discontinue participation in the Legislators' Retirement Plan or the Kentucky Employees Retirement System shall apply to all future service of the General Assembly; amend KRS 6.505, 61.510, 61.525, 61.535, and 61.625 to conform.

Tracking Information

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Title

AN ACT relating to retirement benefit participation for members of the General Assembly.

Sponsors


History

DateChamberAction
2018-01-03Senateto State & Local Government (S)
2018-01-02Senateintroduced in Senate
2017-09-28SenatePrefiled by the sponsor(s).

Kentucky State Sources


Bill Comments

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