KY SB2 | 2017 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 10-0)
Status: Passed on March 10 2017 - 100% progression
Action: 2017-03-10 - signed by Governor
Text: Latest bill text (Draft #2) [PDF]
Spectrum: Partisan Bill (Republican 10-0)
Status: Passed on March 10 2017 - 100% progression
Action: 2017-03-10 - signed by Governor
Text: Latest bill text (Draft #2) [PDF]
Summary
Amend KRS 21.530 to require Senate confirmation of the gubernatorial appointments to the Judicial Form Retirement System; amend KRS 21.540 to require the Judicial Form Retirement System, which administers the Legislators' Retirement Plan and the Judicial Retirement Plan, to post descriptive and financial information to the system's Web site, and to delineate that investment fee and commission reporting include profit sharing, carried interest, and partnership incentives; amend KRS 61.645 to narrow the definition of investment experience on the board of trustees, to specify that vacancies to elected positions be filled by majority vote of the remaining elected members, to require Senate confirmation of gubernatorial appointments to the board, and to delineate that investment fee and commission reporting requirements for the Kentucky Retirement Systems shall include profit sharing, carried interest, and partnership incentives; provide that the systems may not have to disclose contracts on a Web site if disclosure would result in a competitive disadvantage, but require those contracts to be released to the trustees, the State Auditor, and the LRC Govt. Contract Review Committee, subject to the redaction of otherwise exempted material; subject the Kentucky Retirement Systems to KRS Chapter 18A regarding personnel; cap the reimbursement rate for legal services at the Government Contract Review Committee maximum hourly rate; make technical amendments; amend KRS 161.250 to add two gubernatorial appointments to the board subject to Senate confirmation, to specify that investment fee and commission reporting requirements for the Kentucky Teachers' Retirement System must include profit sharing, carried interest, and partnership incentives; provide that the Teachers' Retirement System may not have to disclose contracts on a Web site if disclosure would result in a competitive disadvantage, but require those contracts to be released to the trustees, the State Auditor, and the LRC Govt. Contract Review Committee, subject to the redaction of otherwise exempted material; cap the reimbursement rate for legal services to the Teachers' Retirement System at the Government Contract Review Committee maximum hourly rate; amend various KRS sections to place all state retirement systems under the Model Procurement Code regarding contracts and improve definition of placement agents to include nonemployees and subsidiary firms; amend KRS 7A.220 to increase the membership of the Public Pension Oversight Board; amend KRS 7A.255 to require annual reporting of the percentage of system assets being reported by external managers and partnerships; amend KRS 6.350 to declare noncompliant any actuarial analyses returning negligible or indeterminable cost results; EMERGENCY.
Title
AN ACT relating to retirement and declaring an emergency.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2017-03-10 | Senate | signed by Governor |
| 2017-02-28 | Senate | delivered to Governor |
| 2017-02-28 | Senate | enrolled, signed by Speaker of the House |
| 2017-02-28 | Senate | enrolled, signed by President of the Senate |
| 2017-02-27 | Senate | Bill passed 35-0 |
| 2017-02-27 | Senate | Senate concurred in House floor amendment (1) |
| 2017-02-24 | Senate | posted for passage for concurrence in House floor amendment (1) for Monday, February 27, 2017 |
| 2017-02-24 | Senate | to Rules (S) |
| 2017-02-24 | Senate | received in Senate |
| 2017-02-23 | House | passed 99-0 with floor amendment (1) |
| 2017-02-23 | House | floor amendment (2) ruled out of order |
| 2017-02-23 | House | floor amendment (3) defeated |
| 2017-02-23 | House | 3rd reading |
| 2017-02-22 | House | floor amendment (3) filed |
| 2017-02-21 | House | posted for passage in the Regular Orders of the Day for Wednesday, February 22, 2017 |
| 2017-02-21 | House | 2nd reading, to Rules |
| 2017-02-17 | House | floor amendment (2) filed |
| 2017-02-16 | House | floor amendment (1) filed |
| 2017-02-16 | House | reported favorably, 1st reading, to Calendar |
| 2017-02-14 | House | posted in committee |
| 2017-02-13 | House | to State Government (H) |
| 2017-02-09 | House | received in House |
| 2017-02-08 | Senate | 3rd reading, passed 37-0 with Committee Substitute (1) |
| 2017-02-08 | Senate | posted for passage in the Regular Orders of the Day for Wednesday, February 8, 2017 |
| 2017-02-08 | Senate | reported favorably, to Rules with Committee Substitute (1) |
| 2017-01-04 | Senate | returned to State & Local Government (S) |
| 2017-01-04 | Senate | 2nd reading |
| 2017-01-04 | Senate | taken from State & Local Government (S) |
| 2017-01-03 | Senate | to State & Local Government (S) |
| 2017-01-03 | Senate | returned to Committee on Committees (S) |
| 2017-01-03 | Senate | 1st reading |
| 2017-01-03 | Senate | taken from Committee on Committees (S) |
| 2017-01-03 | Senate | introduced in Senate |
