KY HB443 | 2016 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 19 2016 - 25% progression, died in chamber
Action: 2016-03-15 - posting withdrawn
Text: Latest bill text (Draft #1) [PDF]
Status: Introduced on February 19 2016 - 25% progression, died in chamber
Action: 2016-03-15 - posting withdrawn
Text: Latest bill text (Draft #1) [PDF]
Summary
Amend KRS 21.525 to provide that beginning with the 2017 actuarial valuation, unfunded liabilities of the Judicial Form 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 10- year closed period; provide that beginning with the 2017 actuarial valuation, the actuarially accrued liability contribution shall be calculated using the level dollar amortization method.
Title
AN ACT relating to financing actuarially accrued pension liabilities.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2016-03-15 | House | posting withdrawn |
2016-02-23 | House | posted in committee |
2016-02-22 | House | to State Government (H) |
2016-02-19 | House | introduced in House |
Kentucky State Sources
Type | Source |
---|---|
Summary | http://www.lrc.ky.gov/record/16RS/HB443.htm |
Text | http://www.lrc.ky.gov/record/16RS/HB443/bill.pdf |