KY HB558 | 2020 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on March 2 2020 - 25% progression, died in committee
Action: 2020-03-04 - to State Government (H)
Pending: House State Government Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 2 2020 - 25% progression, died in committee
Action: 2020-03-04 - to State Government (H)
Pending: House State Government Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amend KRS 61.595 and 61.559 to provide that vested Tier I and Tier II employees of an employer who, has ceased participation in the Kentucky Employees Retirement System (KERS) who based upon the employer's choice are no longer eligible to participate in KERS and are required to participate in an alternative retirement plan following the agency's cessation date, can use service credit earned in an alternative retirement to plan determine eligibility for retirement benefits from KERS, but not the amount of benefits, and for purposes of reducing early retirement penalties in the system.
Title
AN ACT relating to employees of agencies who cease participation in the Kentucky Retirement Systems.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-03-04 | House | to State Government (H) |
| 2020-03-02 | House | introduced in House |
Subjects
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | https://apps.legislature.ky.gov/record/20RS/hb558.html |
| Text | https://apps.legislature.ky.gov/recorddocuments/bill/20RS/hb558/orig_bill.pdf |
