Retirement And Pensions

State (Kentucky)
Kentucky 2020 Regular Session

A RESOLUTION confirming the reappointment of Patrick Kelly Downard to the Board of Trustees of the Kentucky Retirement Systems. [SR-93] [Retirement ] [Pensions ]
Confirm the reappointment of Patrick Kelly Downard to the board of trustees of the Kentucky Retirement Systems for a term expiring June 17, 2023.

  

Sponsored by: Sen. Julie Adams Adopted 34-0 on 02/10/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to appropriations measures providing funding and establishing conditions for the operations, maintenance, support, and functioning of the government of the Commonwealth of Kentucky and its various officers, cabinets, departments, boards, commissions, institutions, subdivisions, agencies, and other state-supported activities. [HB-352] [Budget and Spending ] [Economic Development ] [Education ] [Energy ] [Environmental ] [Finance ] [Healthcare ] [Labor, Jobs, Employment ] [Public Safety ] [Arts and Culture ] [Tourism ]
The State/Executive Branch Budget: Detail Part I, Operating Budget; appropriate to General Government: 2019-2020: $21,535,000, 2020-2021: $1,793,871,500, 2021-2022: $1,813,688,900; appropriate to the Economic Development Cabinet: 2020-2021: $33,195,900, 2021-2022: $36,055,300; appropriate to the Department of Education: 2020-2021: $5,183,508,800, 2021-2022: $5,228,565,200; appropriate to the Education and Workforce Development Cabinet: 2020-2021: $615,595,100, 2021-2022: $617,246,200; appropriate to the Energy and Environment Cabinet: 2019-2020: (continued...)

  

Sponsored by: Rep. William Brandon Reed Delivered To Secretary Of State (acts Ch. 92) on 04/15/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to supplemental payments to police officers. [HB-343] [Law Enforcement ] [Public Safety ] [Crime ] [Criminal Justice ]
Amend KRS 15.420 to include members of joint task forces who do not currently receive an annual supplement.

  

Sponsored by: Rep. Thomas J. Burch Recommitted To Appropriations & Revenue (h) on 03/17/2020

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State (Kentucky)
Kentucky 2020 Regular Session

A RESOLUTION confirming the reappointment of Frank Edward Collecchia to the Board of Trustees of the Teachers' Retirement System of Kentucky. [SR-101] [Education ] [Retirement ] [Pensions ]
Confirm the reappointment of Frank Edward Collecchia to the board of trustees of the Teachers' Retirement System for a term expiring March 10, 2023.

  

Sponsored by: Sen. Julie Adams Adopted 34-0 on 02/10/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to financing actuarially accrued pension liabilities of the plans administered by the Judicial Form Retirement System. [HB-328] [Pensions ] [Retirement ] [Budget and Spending ]
Amend KRS 21.525 to provide that beginning with the 2021 actuarial valuation, unfunded liabilities of the Judicial 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 15- year closed period; provide that beginning with the 2021 (continued...)

  

Sponsored by: Rep. Jason Michael Nemes Posting Withdrawn on 02/18/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to retirement plans covering legislators and declaring an emergency. [HB-270] [Pensions ] [Retirement ] [Budget and Spending ] [Labor, Jobs, Employment ]
Create a new section of KRS Chapter 6.500 to 6.577 to close the Legislators' Retirement Plan (LRP) to new members effective July 1, 2020, and to provide that new legislators shall participate in the Kentucky Employees Retirement System (KERS) for the duration of their legislative service; clarify that legislators who are also teachers contributing to the Teachers' Retirement System (TRS) may continue to participate in TRS while serving as a member of the General Assembly; provide that Legislators' Retirement Plan (LRP) members who entered the plan (continued...)

  

Sponsored by: Rep. Kim King Recommitted To Appropriations & Revenue (h) on 02/11/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to death-in-line-of-duty benefits and declaring an emergency. [HB-271] [Pensions ] [Labor, Jobs, Employment ] [Veterans ] [Public Safety ] [Law Enforcement ] [Military ] [Human Services ]
Amend KRS 16.601 and 61.621 to remove provisions which reduce line of duty or duty-related death benefits upon remarriage; establish non-codified sections to: provide that an eligible surviving spouse who has subsequently remarried shall have their benefit increased; provide that an eligible surviving spouse of a member whose death was determined by the systems to be a direct result of an act in line of duty or a duty-related injury, but chose to receive monthly death benefits in lieu of line of duty benefits, shall receive line of duty or duty-related (continued...)

  

Sponsored by: Rep. John C. Blanton Signed By Governor (acts Ch. 46) on 03/27/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to state-supported universities and community colleges participating in the Kentucky Employees Retirement System and declaring an emergency. [HB-262] [Pensions ] [Retirement ] [Education ] [Budget and Spending ] [Labor, Jobs, Employment ]
Amend KRS 61.522 to permit a state-supported university or community college ceasing participation in the Kentucky Employees Retirement System (KERS) nonhazardous plan by June 30, 2020, under the provisions of subsection (8) of KRS 61.522 (2019 SS HB 1), to make an election to retain participation in the retirement plan for only its existing employees who began participating in the systems administered by the Kentucky Retirement Systems prior to September 1, 2008, (Tier I) and, upon its effective cessation date, cease the participation of its existing (continued...)

  

Sponsored by: Rep. Mark Hart To State Government (h) on 01/17/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to state-supported universities and community colleges participating in the Kentucky Employees Retirement System and declaring an emergency. [SB-88] [Pensions ] [Retirement ] [Education ] [Budget and Spending ] [Labor, Jobs, Employment ]
Amend KRS 61.522 to permit a state-supported university or community college ceasing participation in the Kentucky Employees Retirement System (KERS) nonhazardous plan by June 30, 2020, under the provisions of subsection (8) of KRS 61.522 (2019 SS HB 1), to make an election to retain participation in the retirement plan for only its existing employees who began participating in the systems administered by the Kentucky Retirement Systems prior to September 1, 2008, (Tier I) and, upon its effective cessation date, cease the participation of its existing (continued...)

  

Sponsored by: Sen. Wil Schroder To State & Local Government (s) on 01/16/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to the taxation of pension income. [HB-245] [Taxes ] [Retirement ] [Pensions ] [Senior Citizens ]
Amend KRS 141.019, relating to the individual income tax, to increase the pension income exclusion from $31,110 to $41,110.

  

Sponsored by: Rep. Russ Meyer To Appropriations & Revenue (h) on 01/15/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to the Legislators' Retirement Plan and declaring an emergency. [SB-6] [Retirement ] [Pensions ]
Amend KRS 6.525 to provide that non-legislative compensation earned in another state-administered retirement system on or after July 1, 2020, shall not be used to calculate benefits in the Legislators' Retirement Plan; EMERGENCY.

  

Sponsored by: Sen. Damon Thayer Posted In Committee on 02/04/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT repealing pension provisions enacted by the 2018 General Assembly that were declared unconstitutional and void by the Kentucky Supreme Court. [HB-235] [Pensions ]
Repeal the provisions of SB 151 enacted in 2018 that were declared unconstitutional and void by the Kentucky Supreme Court; reenact and amend those provisions to return them to their original pre-SB 151 language; make technical and conforming changes.

  

Sponsored by: Rep. Joe Graviss To State Government (h) on 01/13/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to the Kentucky Retirement Systems. [HB-207] [Pensions ] [Retirement ] [Social Security ] [Labor, Jobs, Employment ]
Housekeeping legislation for the Kentucky Retirement Systems; amend KRS 16.578 and 61.640 to apply the alternate death calculation to and reinstate the life annuity, 60 months certain, actuarial refund, and Social Security adjustment retirement options as written prior to 2009 legislation; amend KRS 61.598 to establish a minimum salary increase of 10% plus $1,000 over the prior year's salary in order for employee anti-pension spiking measures to apply; amend KRS 61.645 to remove requirement that Kentucky Retirement Systems' board election ballots (continued...)

  

Sponsored by: Rep. Jerry T. Miller To State & Local Government (s) on 02/03/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to the taxation of pension income. [HB-212] [Taxes ] [Retirement ] [Pensions ] [Senior Citizens ]
Amend KRS 141.019, relating to the individual income tax, to increase the pension income exclusion from $31,110 to $41,110.

  

Sponsored by: Rep. Kelly Flood To Appropriations & Revenue (h) on 01/10/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT proposing an amendment to Section 226 of the Constitution of Kentucky relating to casino gaming. [HB-181] [Gaming ] [Retirement ]
Propose to amend Section 226 of the Constitution of Kentucky to authorize the General Assembly to define, permit, and regulate casino gaming; require that proceeds be used to pay for oversight of casino gaming; mandate that 100 percent of proceeds in excess of oversight costs go to specified retirement systems prior to July 1, 2040; allow the General Assembly to allocate all proceeds in excess of oversight costs after July 1, 2040; submit to voters.

  

Sponsored by: Rep. George A. Brown Introduced In House on 01/07/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to dually employed retirement system members. [HB-89] [Retirement ] [Labor, Jobs, Employment ] [Pensions ]
Amend KRS 61.545 to provide that if a member is working in a regular full-time hazardous duty position that participates in the Kentucky Employees Retirement System or the County Employees Retirement System and is simultaneously employed in a nonhazardous position that is not considered regular full-time, the member shall participate solely as a hazardous duty member and shall not participate under the nonhazardous position unless he or she makes an election within 30 days of taking employment in the nonhazardous position; amend KRS 61.680 to conform; (continued...)

  

Sponsored by: Rep. Derrick W. Graham To State & Local Government (s) on 01/27/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to the taxation of pension income, making an appropriation therefor, and declaring an emergency. [HB-35] [Taxes ] [Pensions ] [Retirement ] [Budget and Spending ] [Funding ] [Senior Citizens ]
Amend KRS 141.019 to increase the pension income exclusion from $31,110 to $41,110; apply retroactively for taxable years beginning on or after January 1, 2018; require the Department of Revenue to automatically issue refunds; APPROPRIATION; EMERGENCY.

  

Sponsored by: Rep. Danny R. Bentley Introduced In House on 01/07/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to changing beneficiaries after retirement in state-administered retirement systems. [HB-104] [Retirement ] [Pensions ] [Family-Related Legislation ]
Amend KRS 61.542 to allow a retiree who experiences a qualifying event, including marriage, remarriage, the birth or adoption of a child, or the death of a designated beneficiary, to elect to change his or her beneficiary and optional payment plan provided the election is made within 120 days of the qualifying event on a form prescribed by the Kentucky Retirement Systems and provide that in the case of a divorce, annulment, or dissolution of marriage, the retiree's estate shall become the beneficiary; amend KRS 61.590, 61.615, and 61.630 to conform; (continued...)

  

Sponsored by: Rep. Derrick W. Graham To State & Local Government (s) on 02/28/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to the regulation of cannabis and making an appropriation therefor. [HB-148] [Cannabis ] [Finance ] [Taxes ] [Alcoholic Beverages ] [Law Enforcement ] [Criminal Justice ] [Funding ] [Pensions ] [Crime ]
Establish KRS Chapter 245 and create a section to define terms such as "cannabis accessory", "cannabis product", "immature cannabis plant", "indoor cultivator", "mature cannabis plant", and "outdoor cultivator"; create new sections of KRS Chapter 245 to require cannabis to be tracked from seed to consumer; establish license types, application fees, and license fees, and to direct license fees to the permanent pension fund; define sizes for cultivator license types; specify allowed transactions for each license type; set parameters for the home grower (continued...)

  

Sponsored by: Rep. Mary Lou Marzian Introduced In House on 01/07/2020

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State (Kentucky)
Kentucky 2020 Regular Session

AN ACT relating to an exemption of income taxation for military pensions. [HB-92] [Taxes ] [Military ] [Pensions ] [Retirement ] [Veterans ]
Amend KRS 141.019 to exclude United States military retirees' pension income from income taxation for taxable years beginning on or after January 1, 2020, and before January 1, 2024; require reporting by the Department of Revenue; amend KRS 131.190 to conform.

  

Sponsored by: Rep. Mark Hart 2nd Reading, To Rules on 02/13/2020

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