13RS SB168
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SB168

13RS

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SB 168/LM/AA (BR 1368) - C. McDaniel

     AN ACT relating to retirement.
     Create a new section of KRS 161.220 to 161.716 to allow an employer participating in the Kentucky Teachers' Retirement System to discontinue participation in the system for new hires provided the employer pays to have an actuarial cost study completed to determine the cost to the system for the loss of new employees, the employer offers an alternative retirement plan, and the employer enters into an irrevocable contract to pay the system for the actuarial cost over a period not to exceed 30 years; amend KRS 61.520 and 78.535 to allow an employer participating in the Kentucky Employees Retirement System and the County Employees Retirement System to discontinue participation in the system for new hires provided the employer pays to have an actuarial cost study completed to determine the cost to the system for the loss of new employees, the employer offers an alternative retirement plan, and the employer enters into an irrevocable contract to pay the system for the actuarial cost over a period not to exceed 30 years; amend KRS 61.525, 61.543, 61.560, 78.530, 78.540, 78.610, 78.615, 95.520, 95.621, and 95.852 to conform.

     Feb 14-introduced in Senate
     Feb 19-to State & Local Government (S)


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