HB 3/LM/AA (BR 67) - R. Nelson, Dw. Butler, C. Embry Jr
AN ACT relating to insurance.
Create a new section of KRS 18A.225 to 18A.229 to require employers participating in the County Employees Retirement System to pay an adjustment fee to cover the cost of unescorted retirees in the state group who retire beginning in 2004; direct the Personnel Cabinet, with assistance from the retirement system, to determine the additional actuarial cost to the state group because of unescorted retirees; define adjustment fee, state group, and unescorted retiree; direct the Kentucky Retirement Systems to determine the administrative costs to be incurred under this provision and notify the Personnel Cabinet of the amounts; require the Personnel Cabinet to notify each nonparticipating employer of the adjustment fee to be paid starting July 1, 2005; require the Department of Education to include funds for local districts' portion of the adjustment fee in the department's biennial budget request; require the Kentucky Retirement Systems to deposit the amounts paid participating employers into the insurance subsidy escrow account; allow the Kentucky Retirement Systems to remove funds to pay administrative costs; require, beginning January 1, 2008, the health insurance premium paid for a retiree from a nonparticipating employer to include the adjustment fee but not otherwise differ from the premium paid by other state group members; direct the Attorney General to take necessary action to recover funds from participating employers who become delinquent in the payment of their adjustment fees; prohibit any retired member or beneficiary from having his or her health insurance coverage reduced or terminated because of these provisions.
Oct 13-introduced in House
Oct 14-to State Government (H)