Kentucky House Bill 328 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 27 2020 - 25% progression, died in chamber
Action: 2020-02-18 - posting withdrawn
Text: Latest bill text (Introduced) [PDF]

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 actuarial valuation, the actuarially accrued liability contribution shall be calculated using the level dollar amortization method.

AN ACT relating to financing actuarially accrued pension liabilities of the plans administered by the Judicial Form Retirement System.

Rep. Jason Nemes [R]

Date	Chamber	Action
2020-02-18	House	posting withdrawn
2020-02-04	House	posted in committee
2020-01-29	House	to State Government (H)
2020-01-27	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/20RS/hb328.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/20RS/hb328/orig_bill.pdf