13RS HB328

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AN ACT relating to legislative retirement.
Amend KRS 6.520 to have pensions for members who begin contributing to the Legislators' Retirement Plan on or after July 1, 2013, based upon the member's highest 5 years of salary rather than the member's highest 3 years of salary; allow members participating in the Legislators' Retirement Plan prior to July 1, 2013, to make a one-time election to have their benefits based upon the member's highest 5 years of salary rather than the member's highest 3 years of salary; Amend KRS 6.525 to prohibit members of the Legislators' Retirement Plan, who begin contributing on or after July 1, 2013, from using salary earned in another state-administered retirement system or plan to calculate benefits in the Legislators' Retirement Plan; allow members of the Legislators' Retirement Plan contributing to the plan prior to July 1, 2013, to make a one-time election to have their benefits from the Legislators' Retirement Plan based solely on their legislative salary.

Feb 11-introduced in House
Feb 12-to State Government (H)

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