Kentucky 2020 Regular Session Status: Enacted

HB 484 — AN ACT relating to retirement and declaring an emergency.

Last action — signed by Governor (Acts ch. 79)

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
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    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 25, 2020. Enacted.

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Likely to advance 68% · moderate confidence

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  • Enacted

    Current position in the legislative process.

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

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Bill Text

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6888 line(s) added, 6928 removed.

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UNOFFICIAL COPY 20 RS BR 298 AN ACT relating to retirement.
UNOFFICIAL COPY 20 RS HB 484/EN AN ACT relating to retirement and declaring an emergency.
A NEW SECTION OF KRS CHAPTER 61 IS CREATED TO Page 1 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 READ AS FOLLOWS:
A NEW SECTION OF KRS CHAPTER 61 IS CREATED TO Page 1 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN READ AS FOLLOWS:
and (e) Other tasks or duties as directed solely or jointly by the boards of the Kentucky Retirement Systems or the County Employees Retirement System.
(e) Hiring a single actuarial consulting firm who shall serve both the Kentucky Retirement Systems and the County Employees Retirement System;
Page 2 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (2) The eight (8) member Kentucky Public Pensions Authority shall be composed of the following individuals:
and Page 2 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (f) Other tasks or duties as directed solely or jointly by the boards of the Kentucky Retirement Systems or the County Employees Retirement System.
(2) The eight (8) member Kentucky Public Pensions Authority shall be composed of the following individuals:
and (f) Two additional (2) trustees of the County Employees Retirement System board of trustees selected by the chair of the County Employees Retirement System board of trustees of which one (1) shall be a trustee who was elected by the membership of the County Employees Retirement System and one (1) shall be a trustee of the County Employees Retirement System who was appointed by the Governor.
and (f) Two additional (2) trustees of the County Employees Retirement System board of trustees selected by the chair of the County Employees Retirement System board of trustees of which one (1) shall be a trustee who was elected by the membership of the County Employees Retirement System and one (1) shall be a trustee of the County Employees Retirement System who was Page 3 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN appointed by the Governor.
(3) The Kentucky Public Pensions Authority is hereby granted the powers and Page 3 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 privileges of a corporation, including but not limited to the following powers:
(3) The Kentucky Public Pensions Authority is hereby granted the powers and privileges of a corporation, including but not limited to the following powers:
No authority member shall serve in more than one (1) position as a member of the authority.
No authority member Page 4 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN shall serve in more than one (1) position as a member of the authority.
(b) An authority member shall be removed from office upon conviction of a Page 4 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 felony or for a finding of a violation of any provision of KRS 11A.020 or 11A.040 by a court of competent jurisdiction.
(b) An authority member shall be removed from office upon conviction of a felony or for a finding of a violation of any provision of KRS 11A.020 or 11A.040 by a court of competent jurisdiction.
(c) A majority of the authority members shall constitute a quorum and all actions taken by the authority shall be by affirmative vote of a majority of the authority members present.
(c) A majority of the authority members shall constitute a quorum and all actions taken by the authority shall be by affirmative vote of a majority of Page 5 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the authority members present.
(d) The authority shall post on the authority's Web site and shall make Page 5 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 available to the public:
(d) The authority shall post on the authority's Web site and shall make available to the public:
Anything in the Kentucky Revised Statutes to the contrary notwithstanding, the power over and control of determining and maintaining an adequate Page 6 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 complement of employees shall be under the exclusive jurisdiction of the authority.
Page 6 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (c) Effective April 1, 2021, the Kentucky Public Pensions Authority shall assume responsibility of administering the staff of the Kentucky Retirement Systems in order to provide the services established by this section.
(c) Effective April 1, 2021, the Kentucky Public Pensions Authority shall assume responsibility of administering the staff of the Kentucky Retirement Systems in order to provide the services established by this section.
(d) All employees of the Kentucky Public Pensions Authority, except for the executive director, shall be subject to the state personnel system established pursuant to KRS 18A.005 to 18A.204 and shall have their salaries determined by the secretary of the Personnel Cabinet.
Effective July 1, 2021, all employees of the Kentucky Retirement Systems shall be transferred to a personnel system adopted by the Kentucky Public Pensions Authority.
(e) The authority shall annually report to the Public Pension Oversight Board the number of employees of the authority, the salary paid to each employee, and the change in the salaries of each individual employed by the authority over the prior year.
Employees of the Kentucky Public Pensions Authority covered by the personnel system adopted by the authority shall be:
1.
Notwithstanding KRS 61.520, provided retirement coverage in the Kentucky Employees Retirement System in accordance with KRS 61.510 to 61.705;
2.
Provided the same health insurance coverage as all other state government employees as provided in Section 15 of this Act;
3.
Eligible to participate in the deferred compensation system provided for all state government employees as provided in KRS 18A.230 to 18A.275;
4.
Provided the same life insurance coverage provided all state employees as provided in KRS 18A.205 to 18A.215;
5.
Reimbursed for all reasonable and necessary travel expenses and disbursements incurred or made in the performance of official duties in accordance with KRS Chapter 45;
6.
Ensured equal employment opportunity regardless of race, color, gender, religion, national origin, disability, sexual orientation, or age;
7.
Given those holidays and rights granted to state employees as provided in KRS 18A.190;
8.
Paid a salary not less than the salary paid as of the date of transfer to Page 7 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the personnel system, unless voluntarily demoted or involuntarily demoted for cause;
9.
Credited with all accumulated sick leave, compensatory time, and annual leave accumulated in accordance with KRS Chapter 18A, and for an employee leaving service, the authority shall attest to the employee's accumulated sick leave, compensatory time, and annual leave which shall be credited with other employers to the extent provided for by statute or policy;
10.
Classified with status upon transfer to the personnel system on July 1, 2021, if the employee was classified with status as a merit employee under KRS Chapter 18A.
Any employee of the Kentucky Retirement Systems transferred on July 1, 2021, during the probationary period before earning classified status as a merit system employee under KRS Chapter 18A shall transfer all accrued probationary time and the time shall be credited to the probationary time required to attain classified status in the personnel system;
11.
Ensured a grievance appeal procedure and the employee's right to have a representative present at each step of the grievance procedure;
and 12.
Ensured of the right of appeal in a manner consistent with the provisions of KRS 18A.095 to the Kentucky Personnel Board and employees classified with status in the personnel system shall not be dismissed, demoted, suspended, or otherwise penalized except for cause.
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(d) The Kentucky Public Pensions Authority shall adopt a fair, equitable, and comprehensive personnel policy with a minimum of the following provisions for the personnel system:
Page 8 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 1.
A code of conduct including provisions describing performance of duties, abuse of position, conflicts of interest, and outside employment;
2.
An appointments plan including provisions describing the appointing authority, appointments, equal employment policy, sexual harassment policy, and drug-free workplace policy;
3.
A classification plan including provisions describing class specifications, position actions, and employee actions;
4.
A compensation plan based on qualifications, experience, and responsibilities and including provisions which describe a salary schedule, salary adjustments, and salary advancements;
5.
Separations, disciplinary actions, and appeal policies including provisions describing classified with status, exemptions from classified with status, lay-offs, abolishment of position, dismissals and notification of dismissal, dismissals during probationary period, disciplinary actions, right of appeal, grievance and appeal procedures, and an employee grievance and appeal committee;
6.
Service and benefits regulations including provisions describing hours of work, fringe benefits, workers' compensation, payroll deductions, holidays, inclement weather days, compensatory time, retirement, resignations, employee evaluations, and political activities;
and 7.
Leave policies including provisions describing special leave, annual leave, court leave and jury duty, military leave, voting leave, educational leave, sick leave, family medical leave, leave without pay, absence without leave, and blood donation leave.
(e) The authority shall annually report to the Public Pension Oversight Board the number of employees of the authority, the salary paid to each employee, Page 9 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 and the change in the salaries of each individual employed by the authority over the prior year.
The Attorney General may act as legal adviser and attorney for the authority, and the authority may contract for legal services, notwithstanding the limitations of KRS Chapter 12 or 13B.
The Attorney General may act as legal adviser and attorney for the authority, and the authority may contract for legal services, notwithstanding the limitations of KRS Chapter Page 7 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 12 or 13B.
Any additional initial costs determined by the authority to be attributable solely to establishing a separate County Employees Retirement System board and the Kentucky Public Pensions Authority as provided by this section and Section 3 of this Act, shall be paid by the County Employees Retirement System.
Any additional ongoing annual administrative and investment expenses that occur after the establishment of a separate County Employees Retirement System board and the Kentucky Public Pensions Authority that are determined by the authority to be a direct result of establishing a separate County Employees Retirement System board and the Kentucky Public Pensions Authority shall be paid by the County Employees Retirement System.
Page 10 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 2.
2.
(b) An authority member discharges his or her duties on an informed basis if, when he or she makes an inquiry into the business and affairs of the authority, system, or systems or into a particular action to be taken or decision to be made, he or she exercises the care an ordinary prudent person in a like position would exercise under similar circumstances.
(b) An authority member discharges his or her duties on an informed basis if, when he or she makes an inquiry into the business and affairs of the authority, system, or systems or into a particular action to be taken or decision to be made, he or she exercises the care an ordinary prudent Page 8 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN person in a like position would exercise under similar circumstances.
The authority member has breached or failed to perform the duties of Page 11 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the member's office in compliance with this section;
The authority member has breached or failed to perform the duties of the member's office in compliance with this section;
of this subsection, and the burden of proving that the breach or failure to perform was the legal cause of damages suffered by the Kentucky Retirement Systems or County Employees Retirement System, as applicable.
of this subsection, and the burden of proving that the breach or failure to perform was the legal cause of damages suffered by Page 9 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the Kentucky Retirement Systems or County Employees Retirement System, as applicable.
(g) In discharging his or her administrative duties under this section, an authority member shall strive to administer the systems in an efficient and cost-effective manner for the taxpayers of the Commonwealth of Kentucky.
(g) In discharging his or her administrative duties under this section, an authority member shall strive to administer the systems in an efficient and cost-effective manner for the taxpayers of the Commonwealth of Kentucky and shall take all actions available under the law to contain costs for the trusts, including costs for participating employers, members, and retirees.
Of Page 12 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the six (6) trustees appointed by the Governor:
Of the six (6) trustees appointed by the Governor:
One (1) trustee with retirement experience shall be appointed from a list of three (3) applicants submitted by the Kentucky Association of Counties;
One (1) trustee with retirement experience shall be appointed from a Page 10 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN list of three (3) applicants submitted by the Kentucky Association of Counties;
(c) For purposes of paragraph (b) of this subsection, a trustee with "investment Page 13 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 experience" means an individual who does not have a conflict of interest, as provided by KRS 61.655, and who has at least ten (10) years of experience in one (1) of the following areas of expertise:
(c) For purposes of paragraph (b) of this subsection, a trustee with "investment experience" means an individual who does not have a conflict of interest, as provided by KRS 61.655, and who has at least ten (10) years of experience in one (1) of the following areas of expertise:
A current or retired employee or principal of a trust institution, investment or finance organization, or endowment fund acting in an investment-related capacity;
A current or retired employee or principal of a trust institution, Page 11 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN investment or finance organization, or endowment fund acting in an investment-related capacity;
Page 14 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) To make bylaws not inconsistent with the law;
(b) To make bylaws not inconsistent with the law;
(d) Except as provided in subsection (6) of Section 5 of this Act, to contract for investment counseling, actuarial, auditing, medical, and other professional or technical services as required to carry out the obligations of the board subject to the provisions of KRS Chapters 45, 45A, 56, and 57;
(d) Except as provided in subsection (6) of Section 5 of this Act, to contract for investment counseling, auditing, medical, and other professional or technical services as required to carry out the obligations of the board subject to the provisions of KRS Chapters 45, 45A, 56, and 57.
Actuarial Page 12 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN consulting services shall be provided by a firm hired by the Kentucky Public Pensions Authority;
(4) (a) The trustees selected by the membership of the system shall be elected by Page 15 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 ballot.
(4) (a) The trustees selected by the membership of the system shall be elected by ballot.
(b) Individuals may be nominated by the system members by presenting to the executive director, not less than four (4) months before a term of office of a trustee is due to expire, a petition, bearing the name, last four digits of the Social Security number, and signature of no less than one-tenth (1/10) of the number voting in the last election by the system members.
(b) Individuals may be nominated by the system members by presenting to the Page 13 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN executive director, not less than four (4) months before a term of office of a trustee is due to expire, a petition, bearing the name, last four digits of the Social Security number, and signature of no less than one-tenth (1/10) of the number voting in the last election by the system members.
(g) The board's contracted firm shall report in writing the outcome to the chair Page 16 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 of the board of trustees.
(g) The board's contracted firm shall report in writing the outcome to the chair of the board of trustees.
(h) For purposes of this subsection, an eligible voter shall be a person who was a member of the system on December 31 of the year preceding the election year.
(h) For purposes of this subsection, an eligible voter shall be a person who was a member of the system on December 31 of the year preceding the election Page 14 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN year.
however, any vacancy shall be Page 17 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 filled only for the duration of the unexpired term.
however, any vacancy shall be filled only for the duration of the unexpired term.
(6) (a) Membership on the board of trustees shall not be incompatible with any other office unless a constitutional incompatibility exists.
Page 15 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (6) (a) Membership on the board of trustees shall not be incompatible with any other office unless a constitutional incompatibility exists.
Page 18 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (c) A majority of the trustees shall constitute a quorum, and all actions taken by the board shall be by affirmative vote of a majority of the trustees present.
(c) A majority of the trustees shall constitute a quorum, and all actions taken by the board shall be by affirmative vote of a majority of the trustees present.
(9) (a) The board of trustees shall appoint or contract for the services of chief executive officer and fix the compensation and other terms of employment for this position without limitation of the provisions of KRS Chapters 18A and 45A and Section 30 of this Act.
(9) (a) The board of trustees shall appoint or contract for the services of chief Page 16 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN executive officer and fix the compensation and other terms of employment for this position without limitation of the provisions of KRS Chapters 18A and 45A and Section 30 of this Act.
401(a), applicable federal Page 19 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 regulations, and other published guidance shall not be available.
401(a), applicable federal regulations, and other published guidance shall not be available.
401(a), including an administrative regulation to comply with 26 U.S.C.
401(a), including an administrative Page 17 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN regulation to comply with 26 U.S.C.
If the audit is performed by an independent certified public accountant, the Auditor of Public Accounts Page 20 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 shall not be required to perform an audit pursuant to KRS 43.050(2)(a), but may perform an audit at his or her discretion.
If the audit is performed by an independent certified public accountant, the Auditor of Public Accounts shall not be required to perform an audit pursuant to KRS 43.050(2)(a), but may perform an audit at his or her discretion.
The system shall make copies of the audit required by this subsection available for examination by any member, retiree, or beneficiary in the offices of the County Employees Retirement System and in other places as necessary to make the audit available to all members, retirees, and beneficiaries.
The system shall make copies of the audit required by this subsection available for Page 18 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN examination by any member, retiree, or beneficiary in the offices of the County Employees Retirement System and in other places as necessary to make the audit available to all members, retirees, and beneficiaries.
Page 21 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) A trustee discharges his or her duties on an informed basis if, when he or she makes an inquiry into the business and affairs of the system or into a particular action to be taken or decision to be made, he or she exercises the care an ordinary prudent person in a like position would exercise under similar circumstances.
(b) A trustee discharges his or her duties on an informed basis if, when he or she makes an inquiry into the business and affairs of the system or into a particular action to be taken or decision to be made, he or she exercises the care an ordinary prudent person in a like position would exercise under Page 19 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN similar circumstances.
Page 22 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (f) A person bringing an action for monetary damages under this section shall have the burden of proving by clear and convincing evidence the provisions of paragraph (e)1.
(f) A person bringing an action for monetary damages under this section shall have the burden of proving by clear and convincing evidence the provisions of paragraph (e)1.
of this subsection, and the burden of proving that the breach or failure to perform was the legal cause of damages suffered by the system.
of this subsection, and the burden of proving that the breach or failure to perform was the legal cause of damages suffered by Page 20 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the system.
(g) In discharging his or her administrative duties under this section, a trustee shall strive to administer the system in an efficient and cost-effective manner for the taxpayers of the Commonwealth of Kentucky.
(g) In discharging his or her administrative duties under this section, a trustee shall strive to administer the system in an efficient and cost-effective manner for the taxpayers of the Commonwealth of Kentucky and shall take all actions available under the law to contain costs for the trusts, including costs for participating employers, members, and retirees.
Page 23 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 3.
3.
and 4.
and Page 21 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 4.
Page 24 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 1.
1.
3.
Page 22 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 3.
(h) A listing of the members of the board of trustees and membership on each Page 25 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 committee established by the board, including any investment committees;
(h) A listing of the members of the board of trustees and membership on each committee established by the board, including any investment committees;
(i) All investment holdings in aggregate, fees, and commissions for each fund administered by the board, which shall be updated on a quarterly basis for fiscal years beginning on or after July 1, 2021.
(i) All investment holdings in aggregate, fees, and commissions for each fund Page 23 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN administered by the board, which shall be updated on a quarterly basis for fiscal years beginning on or after July 1, 2021.
In lieu of posting the information required by this paragraph to the Page 26 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Kentucky Public Pensions Authority's Web site, the system may provide the information through a Web site established by the executive branch to inform the public about public employee salaries and wages;
In lieu of posting the information required by this paragraph to the Kentucky Public Pensions Authority's Web site, the system may provide the information through a Web site established by the executive branch to Page 24 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN inform the public about public employee salaries and wages;
For purposes of this subsection, "placement agent" means a third-party individual, who is not an employee, or firm, wholly or partially owned by the entity being hired, who solicits investments on behalf of an Page 27 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 investment manager, private fund, or company issuing securities.
For purposes of this subsection, "placement agent" means a third-party individual, who is not an employee, or firm, wholly or partially owned by the entity being hired, who solicits investments on behalf of an investment manager, private fund, or company issuing securities.
(1) The [County Employees Retirement System, ]Kentucky Employees Retirement System[,] and State Police Retirement System shall be administered by the board of trustees of the Kentucky Retirement Systems composed of nine (9)[seventeen (17)] members, who shall be selected as follows:
Page 25 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (1) The [County Employees Retirement System, ]Kentucky Employees Retirement System[,] and State Police Retirement System shall be administered by the board of trustees of the Kentucky Retirement Systems composed of nine (9)[seventeen (17)] members, who shall be selected as follows:
Page 28 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 3 One (1) trustee shall be appointed from a list of three (3) applicants submitted by the Kentucky Association of Counties;
3 One (1) trustee shall be appointed from a list of three (3) applicants submitted by the Kentucky Association of Counties;
4.
Page 26 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 4.
An attorney licensed to practice law in the Commonwealth of Page 29 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Kentucky with relevant experience in retirement or pension plans;
An attorney licensed to practice law in the Commonwealth of Kentucky with relevant experience in retirement or pension plans;
A current or former university professor whose primary area of emphasis is economics or finance.
A current or former university professor whose primary area of Page 27 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN emphasis is economics or finance.
(d) Except as provided in KRS 61.650(6), to contract for investment counseling, actuarial, auditing, medical, and other professional or technical services as required to carry out the obligations of the board subject to KRS Chapters 45, 45A, 56, and 57;
(d) Except as provided in KRS 61.650(6), to contract for investment counseling, [actuarial, ]auditing, medical, and other professional or technical services as required to carry out the obligations of the board subject to KRS Chapters 45, 45A, 56, and 57.
Actuarial consulting services shall be provided by a firm hired by the Kentucky Public Pensions Authority;
(3) (a) Notwithstanding the provisions of subsection (1) of this section, each trustee shall serve a term of four (4) years or until his successor is duly qualified Page 30 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 except as otherwise provided in this section.
(3) (a) Notwithstanding the provisions of subsection (1) of this section, each trustee shall serve a term of four (4) years or until his successor is duly qualified except as otherwise provided in this section.
An elected trustee or a trustee appointed by the Governor under subsection (1)(c)[(1)(e)] of this section, shall not serve more than three (3) consecutive four (4) year terms.
An elected trustee or a trustee Page 28 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN appointed by the Governor under subsection (1)(c)[(1)(e)] of this section, shall not serve more than three (3) consecutive four (4) year terms.
Page 31 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (e) The ballots shall be addressed to the Kentucky Retirement Systems in care of a predetermined box number at a United States Post Office[ located within Kentucky] or submitted electronically as provided by paragraph (j) of this subsection.
(e) The ballots shall be addressed to the Kentucky Retirement Systems in care of Page 29 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN a predetermined box number at a United States Post Office[ located within Kentucky] or submitted electronically as provided by paragraph (j) of this subsection.
and Page 32 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 3.
and 3.
The criminal background check shall be performed by the Department of Kentucky State Police.
Page 30 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN The criminal background check shall be performed by the Department of Kentucky State Police.
(c) A current or former employee of Kentucky Retirement Systems, County Page 33 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Employees Retirement System, or the Kentucky Public Pensions Authority shall not be eligible to serve as a member of the board.
(c) A current or former employee of Kentucky Retirement Systems, County Employees Retirement System, or the Kentucky Public Pensions Authority Page 31 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN shall not be eligible to serve as a member of the board.
(b) Prior to April 1, 2021, the board of trustees shall authorize the executive director to appoint the employees deemed necessary to transact the business of Page 34 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the system.
(b) Prior to April 1, 2021, the board of trustees shall authorize the executive director to appoint the employees deemed necessary to transact the business of the system.
Prior to July 1, 2021, all employees of the systems, except for the executive director, shall be subject to the state personnel system established pursuant to KRS 18A.005 to 18A.204 and shall have their salaries determined by the secretary of the Personnel Cabinet.
Prior to July 1, 2021, all employees of the systems, except for the Page 32 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN executive director, shall be subject to the state personnel system established pursuant to KRS 18A.005 to 18A.204 and shall have their salaries determined by the secretary of the Personnel Cabinet.
The board shall have the authority to promulgate administrative regulations to conform with federal statute and regulation and to meet the Page 35 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 qualification requirements under 26 U.S.C.
The board shall have the authority to promulgate administrative regulations to conform with federal statute and regulation and to meet the qualification requirements under 26 U.S.C.
401(a), including an administrative regulation to comply with 26 U.S.C.
401(a), including an Page 33 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN administrative regulation to comply with 26 U.S.C.
The system shall make copies of the audit required by this subsection available for examination by any member, retiree, or beneficiary in the office of the executive director of the Kentucky Retirement Page 36 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Systems and in other places as necessary to make the audit available to all members, retirees, and beneficiaries.
The system shall make copies of the audit required by this subsection available for examination by any member, retiree, or beneficiary in the office of the executive director of the Kentucky Retirement Systems and in other places as necessary to make the audit available to all Page 34 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN members, retirees, and beneficiaries.
(b) A trustee discharges his duties on an informed basis if, when he makes an inquiry into the business and affairs of the Kentucky Retirement Systems or Page 37 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 into a particular action to be taken or decision to be made, he exercises the care an ordinary prudent person in a like position would exercise under similar circumstances.
(b) A trustee discharges his duties on an informed basis if, when he makes an inquiry into the business and affairs of the Kentucky Retirement Systems or into a particular action to be taken or decision to be made, he exercises the Page 35 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN care an ordinary prudent person in a like position would exercise under similar circumstances.
of this subsection, and the burden of proving that the Page 38 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 breach or failure to perform was the legal cause of damages suffered by the Kentucky Retirement Systems.
of this subsection, and the burden of proving that the breach or failure to perform was the legal cause of damages suffered by the Page 36 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Kentucky Retirement Systems.
(h) In discharging his or her administrative duties under this section, a trustee shall strive to administer the retirement system in an efficient and cost- effective manner for the taxpayers of the Commonwealth of Kentucky.
(h) In discharging his or her administrative duties under this section, a trustee shall strive to administer the retirement system in an efficient and cost- effective manner for the taxpayers of the Commonwealth of Kentucky and shall take all actions available under the law to contain costs for the trusts, including costs for participating employers, members, and retirees.
1.
Page 37 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 1.
Page 39 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 2.
2.
Notices and agendas shall be posted to the Kentucky Public Pensions Authority's [retirement systems'] Web site at least seventy-two (72) hours in advance of the board or committee meetings, except in the case of special or emergency meetings as provided by KRS 61.823;
Notices and agendas shall be posted to the Kentucky Public Pensions Authority's [retirement systems'] Web site at least seventy-two (72) hours in advance of the board or committee meetings, except in the case of special or emergency Page 38 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN meetings as provided by KRS 61.823;
Page 40 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) The Comprehensive Annual Financial Report with the information as follows:
(b) The Comprehensive Annual Financial Report with the information as follows:
(g) A document containing an unofficial copy of the statutes governing the systems administered by Kentucky Retirement Systems;
(g) A document containing an unofficial copy of the statutes governing the Page 39 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN systems administered by Kentucky Retirement Systems;
Page 41 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (h) A listing of the members of the board of trustees and membership on each committee established by the board, including any investment committees;
(h) A listing of the members of the board of trustees and membership on each committee established by the board, including any investment committees;
(k) A searchable database of the systems' expenditures and a listing of each individual employed by the systems along with the employee's salary or Page 42 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 wages.
(k) A searchable database of the systems' expenditures and a listing of each Page 40 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN individual employed by the systems along with the employee's salary or wages.
(21) Notwithstanding any other provision of KRS 16.505 to 16.652 and[,] 61.510 to 61.705[, and 78.510 to 78.852] to the contrary, no funds of the systems administered by Kentucky Retirement Systems, including fees and commissions paid to an investment manager, private fund, or company issuing securities, who manages systems assets, shall be used to pay fees and commissions to placement agents.
(21) Notwithstanding any other provision of KRS 16.505 to 16.652 and[,] 61.510 to 61.705[, and 78.510 to 78.852] to the contrary, no funds of the systems administered by Kentucky Retirement Systems, including fees and commissions paid to an investment manager, private fund, or company issuing securities, who manages systems assets, shall be used to pay fees and commissions to placement Page 41 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN agents.
For purposes of this subsection, "placement agent" means a third-party Page 43 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 individual, who is not an employee, or firm, wholly or partially owned by the entity being hired, who solicits investments on behalf of an investment manager, private fund, or company issuing securities.
For purposes of this subsection, "placement agent" means a third-party individual, who is not an employee, or firm, wholly or partially owned by the entity being hired, who solicits investments on behalf of an investment manager, private fund, or company issuing securities.
(c) A trustee, officer, employee, employee of the Kentucky Public Pensions Page 44 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Authority, or other fiduciary shall discharge duties with respect to the system:
Page 42 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (c) A trustee, officer, employee, employee of the Kentucky Public Pensions Authority, or other fiduciary shall discharge duties with respect to the system:
Investment managers shall comply with all applicable provisions of the federal Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder, and shall comply with all other applicable federal securities statutes and related rules and Page 45 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 regulations that apply to investment managers.
Investment managers shall comply with all applicable provisions of the federal Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder, and shall comply with Page 43 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN all other applicable federal securities statutes and related rules and regulations that apply to investment managers.
(a) The board shall consult with the secretary of the Finance and Administration Cabinet or his or her designee to develop an investment Page 46 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 procurement policy, which shall be written to meet best practices in investment management procurement;
(a) The board shall consult with the secretary of the Finance and Page 44 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Administration Cabinet or his or her designee to develop an investment procurement policy, which shall be written to meet best practices in investment management procurement;
The three (3)[The six (6)] trustees appointed by the Governor pursuant to Section 4 of this Act who have investment Page 47 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 experience[KRS 61.645(1)(e)5.];
The three (3)[The six (6)] trustees appointed by the Governor Page 45 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN pursuant to Section 4 of this Act who have investment experience[KRS 61.645(1)(e)5.];
All internal investment staff, including investment staff of the Kentucky Public Pensions Authority, and investment consultants shall adhere to the Code of Ethics and Standards of Professional Conduct, and Page 48 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 all board trustees shall adhere to the Code of Conduct for Members of a Pension Scheme Governing Body.
All internal investment staff, including investment staff of the Kentucky Public Pensions Authority, and investment consultants shall Page 46 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN adhere to the Code of Ethics and Standards of Professional Conduct, and all board trustees shall adhere to the Code of Conduct for Members of a Pension Scheme Governing Body.
Instead, the board shall conduct the following process to develop and adopt an investment procurement policy with Page 49 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 which all prospective contracts for the investment or management of assets of the systems shall comply:
Instead, the board shall conduct the Page 47 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN following process to develop and adopt an investment procurement policy with which all prospective contracts for the investment or management of assets of the systems shall comply:
(1) (a) As soon as practicable after its organization, the County Employees Retirement System board shall adopt the actuarial tables, assumptions, and methods necessary for the administration of the system and for the annual determination of actuarial assets, actuarial liabilities, and recommended Page 50 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 employer contribution rates of the system as provided by Sections 8 and 28 of this Act, for the pension and retiree health funds.
(1) (a) As soon as practicable after its organization, the County Employees Retirement System board shall adopt the actuarial tables, assumptions, and methods necessary for the administration of the system and for the annual Page 48 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN determination of actuarial assets, actuarial liabilities, and recommended employer contribution rates of the system as provided by Sections 8 and 28 of this Act, for the pension and retiree health funds.
(c) At least once in each five (5) year period, the board shall cause an actuarial investigation to be made of all the experience under the system relative to the actuarial assumptions and funding methods previously adopted by the board.
(c) At least once in each five (5) year period, the board shall cause an actuarial investigation to be made of all the experience under the system relative to the actuarial assumptions and funding methods previously adopted by the Page 49 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN board.
The actuarial investigation shall include at a minimum a summary Page 51 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 of the changes in actuarial assumptions and funding methods recommended in the investigation and the projected impact of the recommended changes on funding levels, unfunded liabilities, and actuarially recommended contribution rates for employers over a twenty (20) year period.
The actuarial investigation shall include at a minimum a summary of the changes in actuarial assumptions and funding methods recommended in the investigation and the projected impact of the recommended changes on funding levels, unfunded liabilities, and actuarially recommended contribution rates for employers over a twenty (20) year period.
(2) A copy of each five (5) year actuarial investigation, actuarial analysis, and annual valuation required by subsection (1) of this section shall be forwarded electronically to the Legislative Research Commission no later than ten (10) days after receipt by the board, and the Legislative Research Commission shall distribute the information received to the committee staff and co-chairs of any committee that has jurisdiction over the County Employees Retirement System.
(2) A copy of each five (5) year actuarial investigation, actuarial analysis, and annual valuation required by subsection (1) of this section shall be forwarded electronically to the Legislative Research Commission no later than ten (10) days after receipt by the board, and the Legislative Research Commission shall distribute the information received to the committee staff and co-chairs of any Page 50 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN committee that has jurisdiction over the County Employees Retirement System.
Page 52 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 The actuarial valuation required by subsection (1)(b) of this section shall be submitted no later than November 15 following the close of the fiscal year.
The actuarial valuation required by subsection (1)(b) of this section shall be submitted no later than November 15 following the close of the fiscal year.
(2) The normal contribution rate shall be determined by the entry age normal cost funding method.
(2) The normal contribution rate shall be determined by the entry age normal cost Page 51 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN funding method.
The actuarially accrued liability shall be determined by Page 53 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 actuarial method consistent with the methods prescribed for determining the normal contribution rate.
The actuarially accrued liability shall be determined by actuarial method consistent with the methods prescribed for determining the normal contribution rate.
(1) A bill which would increase or decrease the benefits or increase or decrease participation in the benefits or change the actuarial accrued liability of any state- Page 54 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 administered retirement system shall not be reported from a legislative committee of either house of the General Assembly for consideration by the full membership of that house unless the bill is accompanied by an actuarial analysis.
(1) A bill which would increase or decrease the benefits or increase or decrease Page 52 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN participation in the benefits or change the actuarial accrued liability of any state- administered retirement system shall not be reported from a legislative committee of either house of the General Assembly for consideration by the full membership of that house unless the bill is accompanied by an actuarial analysis.
(d) An actuarial analysis shall state the actuarial assumptions and methods of computation used in the analysis and shall state whether or not the bill or resolution, if enacted, would, in the opinion of the actuary, make the affected Page 55 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 state-administered retirement system actuarially unsound or, in the case of a system already actuarially unsound, more unsound.
(d) An actuarial analysis shall state the actuarial assumptions and methods of computation used in the analysis and shall state whether or not the bill or Page 53 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN resolution, if enacted, would, in the opinion of the actuary, make the affected state-administered retirement system actuarially unsound or, in the case of a system already actuarially unsound, more unsound.
The Kentucky Employees Retirement System[, the County Employees Retirement System,] and the State Police Retirement System Page 56 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 administered by the Kentucky Retirement Systems and established under the provisions of KRS 16.505 to 16.652 and[,] 61.510 to 61.705[, and 78.510 to 78.852];
The Kentucky Employees Retirement System[, the County Employees Page 54 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Retirement System,] and the State Police Retirement System administered by the Kentucky Retirement Systems and established under the provisions of KRS 16.505 to 16.652 and[,] 61.510 to 61.705[, and 78.510 to 78.852];
(2) May, once every five (5) years, review the benefits provided to employees who begin participating in the systems administered by Kentucky Retirement Systems or the County Employees Retirement System on or after January 1, 2014[, and the Teachers' Retirement System on or after January 1, 2019], and recommend any changes to the provisions affecting these employees that are necessary to maintain the actuarial soundness of the systems;
(2) May, once every five (5) years, review the benefits provided to employees who begin participating in the systems administered by Kentucky Retirement Systems or the County Employees Retirement System on or after January 1, 2014[, and the Teachers' Retirement System on or after January 1, 2019], and recommend any changes to the provisions affecting these employees that are necessary to maintain Page 55 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the actuarial soundness of the systems;
Page 57 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (3) Shall review semiannually the investment programs of the state-administered retirement systems, including a review of asset allocation targets and ranges, risk factors, asset class benchmarks, total return objectives, relative volatility, performance evaluation guidelines, investment policies, and securities litigation policies and recoveries from fraud or other corporate malfeasance.
(3) Shall review semiannually the investment programs of the state-administered retirement systems, including a review of asset allocation targets and ranges, risk factors, asset class benchmarks, total return objectives, relative volatility, performance evaluation guidelines, investment policies, and securities litigation policies and recoveries from fraud or other corporate malfeasance.
The review shall be performed by an actuary retained by the Public Pension Oversight Board;
The review shall be performed by an actuary Page 56 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN retained by the Public Pension Oversight Board;[ and] (10) Shall once every four (4) years review the administrative expenses of the state- administered retirement systems.
and Page 58 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (10) Shall publish an annual report covering the board's evaluation and recommendations with respect to the operations of the state-administered retirement systems.
The review shall include but not limited to evaluating the level and growth of administrative costs, the potential for legislative changes to reduce administrative costs, and administrative changes the systems may make to reduce administrative costs and staffing needs;
and (11)[(10)] Shall publish an annual report covering the board's evaluation and recommendations with respect to the operations of the state-administered retirement systems.
parent, brother, sister, grandparent, grandchild, father-in-law, mother-in-law, brother-in-law, sister- in-law, son-in-law, daughter-in-law, stepfather, stepmother, stepson, stepdaughter, stepbrother, stepsister, half brother, half sister;
parent, brother, sister, grandparent, grandchild, father-in-law, mother-in-law, brother-in-law, sister- Page 57 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN in-law, son-in-law, daughter-in-law, stepfather, stepmother, stepson, stepdaughter, stepbrother, stepsister, half brother, half sister;
"gift" does not include gifts from family members, campaign contributions, the waiver of a registration fee for a presenter at a conference or training described in KRS Page 59 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 45A.097(5), or door prizes available to the public;
"gift" does not include gifts from family members, campaign contributions, the waiver of a registration fee for a presenter at a conference or training described in KRS 45A.097(5), or door prizes available to the public;
8.
Page 58 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 8.
and Page 60 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (d) Any person who, through a personal service contract or any other contractual employment arrangement with an agency, performs on a full-time, nonseasonal basis a function of any major management position listed in this subsection;
and (d) Any person who, through a personal service contract or any other contractual employment arrangement with an agency, performs on a full-time, nonseasonal basis a function of any major management position listed in this subsection;
A public servant is employed by the agency by which his or her appointing authority is employed, unless his or her agency is attached to the appointing authority's agency for administrative purposes only, or unless the agency's characteristics are of a separate independent nature distinct from the appointing authority and it is considered an agency on its own, such as an independent department;
A public Page 59 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN servant is employed by the agency by which his or her appointing authority is employed, unless his or her agency is attached to the appointing authority's agency for administrative purposes only, or unless the agency's characteristics are of a separate independent nature distinct from the appointing authority and it is considered an agency on its own, such as an independent department;
(11) "Lobbyist" means any person employed as a legislative agent as defined in KRS Page 61 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 6.611(23) or any person employed as an executive agency lobbyist as defined in KRS 11A.201(8);
(11) "Lobbyist" means any person employed as a legislative agent as defined in KRS 6.611(23) or any person employed as an executive agency lobbyist as defined in KRS 11A.201(8);
(19) "Sporting event" means any professional or amateur sport, athletic game, contest, event, or race involving machines, persons, or animals, for which admission tickets are offered for sale and that is viewed by the public;
(19) "Sporting event" means any professional or amateur sport, athletic game, contest, Page 60 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN event, or race involving machines, persons, or animals, for which admission tickets are offered for sale and that is viewed by the public;
and Page 62 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (21) "Salaried" means receiving a fixed compensation or benefit reserved for full-time employees, which is paid on a regular basis without regard to the actual number of hours worked.
and (21) "Salaried" means receiving a fixed compensation or benefit reserved for full-time employees, which is paid on a regular basis without regard to the actual number of hours worked.
"Expenditure" does not include the purchase, sale, or gift of services or any other thing of value that is available to the general public on the same terms as it is available to the persons listed in this subsection.
"Expenditure" does not include the purchase, sale, or gift of services or any other thing of value that is Page 61 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN available to the general public on the same terms as it is available to the persons listed in this subsection.
"Expenditure" does not include a payment, contribution, gift, purchase, or any other thing of value that is made to or on behalf of any elected executive official, the secretary of a cabinet listed in KRS 12.250, an executive agency official, or any member of the staff of any of the officials listed in this paragraph who works for a state agency for which Page 63 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the executive agency lobbyist is not registered to influence;
"Expenditure" does not include a payment, contribution, gift, purchase, or any other thing of value that is made to or on behalf of any elected executive official, the secretary of a cabinet listed in KRS 12.250, an executive agency official, or any member of the staff of any of the officials listed in this paragraph who works for a state agency for which the executive agency lobbyist is not registered to influence;
(6) "Executive agency" means the office of an elected executive official, a cabinet listed in KRS 12.250, or any other state agency, department, board, or commission controlled or directed by an elected executive official or otherwise subject to his or her authority.
(6) "Executive agency" means the office of an elected executive official, a cabinet listed in KRS 12.250, or any other state agency, department, board, or commission Page 62 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN controlled or directed by an elected executive official or otherwise subject to his or her authority.
(7) "Executive agency decision" means a decision of an executive agency regarding the expenditure of funds of the state or of an executive agency with respect to the award of a contract, grant, lease, or other financial arrangement under which those funds Page 64 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 are distributed or allocated.
(7) "Executive agency decision" means a decision of an executive agency regarding the expenditure of funds of the state or of an executive agency with respect to the award of a contract, grant, lease, or other financial arrangement under which those funds are distributed or allocated.
(9) (a) "Executive agency lobbying activity" means contacts made to promote, advocate, or oppose the passage, modification, defeat, or executive approval or veto of any legislation or otherwise influence the outcome of an executive agency decision by direct communication with an elected executive official, the secretary of any cabinet listed in KRS 12.250, any executive agency official whether in the classified service or not, or a member of the staff of any one of the officials listed in this paragraph.
(9) (a) "Executive agency lobbying activity" means contacts made to promote, advocate, or oppose the passage, modification, defeat, or executive approval Page 63 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN or veto of any legislation or otherwise influence the outcome of an executive agency decision by direct communication with an elected executive official, the secretary of any cabinet listed in KRS 12.250, any executive agency official whether in the classified service or not, or a member of the staff of any one of the officials listed in this paragraph.
Page 65 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 1.
1.
(10) "Executive agency official" means an officer or employee of an executive agency whose principal duties are to formulate policy or to participate directly or indirectly in the preparation, review, or award of contracts, grants, leases, or other financial arrangements with an executive agency;
Page 64 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (10) "Executive agency official" means an officer or employee of an executive agency whose principal duties are to formulate policy or to participate directly or indirectly in the preparation, review, or award of contracts, grants, leases, or other financial arrangements with an executive agency;
(12) "Elected executive official" means the Governor, Lieutenant Governor, Secretary of Page 66 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 State, Auditor of Public Accounts, State Treasurer, Attorney General, and Commissioner of Agriculture;
(12) "Elected executive official" means the Governor, Lieutenant Governor, Secretary of State, Auditor of Public Accounts, State Treasurer, Attorney General, and Commissioner of Agriculture;
(17) "Placement agent" means an individual or firm who is compensated or hired by an employer or other real party in interest for the purpose of influencing an executive agency decision regarding the investment of the Kentucky Retirement Systems, the County Employees Retirement System, or the Kentucky Teachers' Retirement System assets;
(17) "Placement agent" means an individual or firm who is compensated or hired by an employer or other real party in interest for the purpose of influencing an executive agency decision regarding the investment of the Kentucky Retirement Systems, the Page 65 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN County Employees Retirement System, or the Kentucky Teachers' Retirement System assets;
Page 67 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (1) Except as provided in subsection (2) of this section, no person shall engage any persons to influence executive agency decisions or conduct executive agency lobbying activity for compensation that is contingent in any way on the outcome of an executive agency decision, including payment based on the awarding of a contract or payment of a percentage of a government contract awarded, and no person shall accept any engagement to influence executive agency decisions or conduct executive agency lobbying activity for compensation that is contingent in any way on the outcome of an executive agency decision, including payment based on the awarding of a contract or payment of a percentage of a government contract awarded.
(1) Except as provided in subsection (2) of this section, no person shall engage any persons to influence executive agency decisions or conduct executive agency lobbying activity for compensation that is contingent in any way on the outcome of an executive agency decision, including payment based on the awarding of a contract or payment of a percentage of a government contract awarded, and no person shall accept any engagement to influence executive agency decisions or conduct executive agency lobbying activity for compensation that is contingent in any way on the outcome of an executive agency decision, including payment based on the awarding of a contract or payment of a percentage of a government contract awarded.
or (b) Any person from engaging a placement agent to influence investment decisions of the Kentucky Retirement Systems, County Employees Retirement System, and the Kentucky Teachers' Retirement System for compensation that is contingent on the outcome of investment decisions by the retirement systems' boards of trustees.
or (b) Any person from engaging a placement agent to influence investment Page 66 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN decisions of the Kentucky Retirement Systems, County Employees Retirement System, and the Kentucky Teachers' Retirement System for compensation that is contingent on the outcome of investment decisions by the retirement systems' boards of trustees.
Page 68 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (1) The secretary of the Finance and Administration Cabinet, upon the recommendation of the secretary, may procure from one (1) or more life insurance companies, authorized to do business in this state, a policy or policies of group life insurance insuring the lives of all or any class or classes of public employees.
(1) The secretary of the Finance and Administration Cabinet, upon the recommendation of the secretary, may procure from one (1) or more life insurance companies, authorized to do business in this state, a policy or policies of group life insurance insuring the lives of all or any class or classes of public employees.
or d.
or Page 67 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN d.
An individual eligible to participate in a retirement plan established by an employer who ceases participating in the Kentucky Employees Retirement System pursuant to KRS 61.522 whose employees participated in the life insurance plans administered by the Personnel Cabinet prior to the employer's effective cessation date in the Kentucky Employees Retirement Page 69 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 System.
An individual eligible to participate in a retirement plan established by an employer who ceases participating in the Kentucky Employees Retirement System pursuant to KRS 61.522 whose employees participated in the life insurance plans administered by the Personnel Cabinet prior to the employer's effective cessation date in the Kentucky Employees Retirement System.
or by any city, urban-county, charter county, county, or consolidated local government, whose legislative body has opted to participate in the state- sponsored health insurance program pursuant to KRS 79.080;
or by Page 68 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN any city, urban-county, charter county, county, or consolidated local government, whose legislative body has opted to participate in the state- sponsored health insurance program pursuant to KRS 79.080;
and who is either a contributing member to any one (1) of the retirement systems administered by the state, including but not limited to the Kentucky Retirement Systems, County Employees Retirement System, Kentucky Page 70 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Teachers' Retirement System, the Legislators' Retirement Plan, or the Judicial Retirement Plan;
and who is either a contributing member to any one (1) of the retirement systems administered by the state, including but not limited to the Kentucky Retirement Systems, County Employees Retirement System, Kentucky Teachers' Retirement System, the Legislators' Retirement Plan, or the Judicial Retirement Plan;
Any person who is a present or future recipient of a retirement allowance from the Kentucky Retirement Systems, County Employees Retirement System, Kentucky Teachers' Retirement System, the Legislators' Retirement Plan, the Judicial Retirement Plan, or the Kentucky Community and Technical College System's optional retirement plan authorized by KRS 161.567, except that a person who is receiving a retirement allowance and who is age sixty-five (65) or older shall not be included, with the exception of persons covered under KRS 61.702(4)(c), unless he or she is actively employed pursuant to subparagraph 1.
Any person who is a present or future recipient of a retirement allowance from the Kentucky Retirement Systems, County Employees Retirement System, Kentucky Teachers' Retirement System, the Legislators' Retirement Plan, the Judicial Retirement Plan, or the Kentucky Community and Technical College System's optional retirement plan authorized by KRS 161.567, except that a person who is receiving a retirement allowance and who is age sixty-five (65) or older shall not be included, with the exception of persons covered under KRS 61.702(4)(c), unless he or she is actively employed pursuant to Page 69 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN subparagraph 1.
Page 71 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (c) The term "insurer" for the purposes of this section means an insurer as defined in KRS 304.17A-005;
(c) The term "insurer" for the purposes of this section means an insurer as defined in KRS 304.17A-005;
Health insurance coverage provided to state employees under this section shall, at a minimum, contain the same benefits as provided under Kentucky Kare Standard as of January 1, 1994, and shall include a mail-order drug option as provided in subsection (13) of this section.
Health insurance coverage Page 70 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN provided to state employees under this section shall, at a minimum, contain the same benefits as provided under Kentucky Kare Standard as of January 1, 1994, and shall include a mail-order drug option as provided in subsection (13) of this section.
All employees and other persons for whom the health care coverage is provided or made available shall annually be given an option to elect health care coverage through a self-funded plan offered by the Page 72 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Commonwealth or, if a self-funded plan is not available, from a list of coverage options determined by the competitive bid process under the provisions of KRS 45A.080, 45A.085, and 45A.090 and made available during annual open enrollment.
All employees and other persons for whom the health care coverage is provided or made available shall annually be given an option to elect health care coverage through a self-funded plan offered by the Commonwealth or, if a self-funded plan is not available, from a list of coverage options determined by the competitive bid process under the provisions of KRS 45A.080, 45A.085, and 45A.090 and made available during annual open enrollment.
and to be subject to penalties for noncompliance with data reporting requirements as specified by the Personnel Cabinet.
and to be subject to penalties for noncompliance with data reporting requirements as specified Page 71 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN by the Personnel Cabinet.
(e) The Personnel Cabinet shall develop the necessary techniques and capabilities for timely analysis of data received from carriers and, to the extent possible, Page 73 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 provide in the request-for-proposal specifics relating to data requirements, electronic reporting, and penalties for noncompliance.
(e) The Personnel Cabinet shall develop the necessary techniques and capabilities for timely analysis of data received from carriers and, to the extent possible, provide in the request-for-proposal specifics relating to data requirements, electronic reporting, and penalties for noncompliance.
(g) Any funds in flexible spending accounts that remain after all reimbursements have been processed shall be transferred to the credit of the state-sponsored health insurance plan's appropriation account.
(g) Any funds in flexible spending accounts that remain after all reimbursements have been processed shall be transferred to the credit of the state-sponsored Page 72 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN health insurance plan's appropriation account.
Page 74 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (3) The premiums may be paid by the policyholder:
(3) The premiums may be paid by the policyholder:
(5) No payment of premium by any department, board, agency, public postsecondary educational institution, or branch of state, city, urban-county, charter county, county, or consolidated local government shall constitute compensation to an insured employee for the purposes of any statute fixing or limiting the compensation of such an employee.
(5) No payment of premium by any department, board, agency, public postsecondary educational institution, or branch of state, city, urban-county, charter county, county, or consolidated local government shall constitute compensation to an insured employee for the purposes of any statute fixing or limiting the Page 73 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN compensation of such an employee.
(6) The policy or policies may contain the provisions with respect to the class or classes of employees covered, amounts of insurance or coverage for designated classes or Page 75 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 groups of employees, policy options, terms of eligibility, and continuation of insurance or coverage after retirement.
(6) The policy or policies may contain the provisions with respect to the class or classes of employees covered, amounts of insurance or coverage for designated classes or groups of employees, policy options, terms of eligibility, and continuation of insurance or coverage after retirement.
The secretary shall also appoint two (2) members from a list of five (5) names submitted by the Kentucky Education Association, two (2) members from a list of five (5) names submitted by the largest state employee organization of nonschool state employees, two (2) members from a list of five (5) names submitted by the Kentucky Association of Counties, two (2) members from a list of five (5) names submitted by the Kentucky League of Cities, and two (2) members from a list of names consisting of five (5) names submitted by each state employee organization that has two thousand (2,000) or more members on state payroll deduction.
The secretary shall also appoint two (2) members from a list of five (5) names submitted by the Kentucky Education Association, two (2) members from a list of five (5) names submitted by the largest state employee organization of nonschool state employees, two (2) members from a list of five (5) names submitted by the Page 74 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Kentucky Association of Counties, two (2) members from a list of five (5) names submitted by the Kentucky League of Cities, and two (2) members from a list of names consisting of five (5) names submitted by each state employee organization that has two thousand (2,000) or more members on state payroll deduction.
Page 76 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (10) Notwithstanding any other provision of law to the contrary, the policy or policies provided to employees pursuant to this section shall not provide coverage for obtaining or performing an abortion, nor shall any state funds be used for the purpose of obtaining or performing an abortion on behalf of employees or their dependents.
(10) Notwithstanding any other provision of law to the contrary, the policy or policies provided to employees pursuant to this section shall not provide coverage for obtaining or performing an abortion, nor shall any state funds be used for the purpose of obtaining or performing an abortion on behalf of employees or their dependents.
(b) A health insurer shall not discriminate against any retail pharmacy located within the geographic coverage area of the health benefit plan and that meets the terms and conditions for participation established by the insurer, including price, dispensing fee, and copay requirements of a mail-order option.
Page 75 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (b) A health insurer shall not discriminate against any retail pharmacy located within the geographic coverage area of the health benefit plan and that meets the terms and conditions for participation established by the insurer, including price, dispensing fee, and copay requirements of a mail-order option.
(c) The mail-order option shall not permit the dispensing of a controlled Page 77 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 substance classified in Schedule II.
(c) The mail-order option shall not permit the dispensing of a controlled substance classified in Schedule II.
(18) If a state employee's residence and place of employment are each located in counties in which the hospitals do not offer surgical services, intensive care services, obstetrical services, level II neonatal services, diagnostic cardiac catheterization services, and magnetic resonance imaging services, the employee may select a plan available in a county contiguous to the county of residence that does provide those services, and the state contribution for the plan shall be the amount available in the county where the plan selected is located.
(18) If a state employee's residence and place of employment are each located in counties in which the hospitals do not offer surgical services, intensive care services, Page 76 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN obstetrical services, level II neonatal services, diagnostic cardiac catheterization services, and magnetic resonance imaging services, the employee may select a plan available in a county contiguous to the county of residence that does provide those services, and the state contribution for the plan shall be the amount available in the county where the plan selected is located.
(19) The Personnel Cabinet is encouraged to study whether it is fair and reasonable and Page 78 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 in the best interests of the state group to allow any carrier bidding to offer health care coverage under this section to submit bids that may vary county by county or by larger geographic areas.
(19) The Personnel Cabinet is encouraged to study whether it is fair and reasonable and in the best interests of the state group to allow any carrier bidding to offer health care coverage under this section to submit bids that may vary county by county or by larger geographic areas.
If the Personnel Cabinet deems the bids submitted in accordance with this subsection to be in the best interests of state employees in a region, the cabinet may award the contract for that region to no more than two (2) carriers;
If the Personnel Cabinet deems the bids submitted in accordance with this subsection to be in the best interests of state employees in a region, the cabinet may award the Page 77 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN contract for that region to no more than two (2) carriers;
(21) Any fully insured health benefit plan or self-insured plan issued or renewed on or after July 12, 2006, to public employees pursuant to this section which provides coverage for services rendered by a physician or osteopath duly licensed under KRS Page 79 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Chapter 311 that are within the scope of practice of an optometrist duly licensed under the provisions of KRS Chapter 320 shall provide the same payment of coverage to optometrists as allowed for those services rendered by physicians or osteopaths.
(21) Any fully insured health benefit plan or self-insured plan issued or renewed on or after July 12, 2006, to public employees pursuant to this section which provides coverage for services rendered by a physician or osteopath duly licensed under KRS Chapter 311 that are within the scope of practice of an optometrist duly licensed under the provisions of KRS Chapter 320 shall provide the same payment of coverage to optometrists as allowed for those services rendered by physicians or osteopaths.
(1) The Commonwealth Office of Technology shall be the lead organizational entity within the executive branch regarding delivery of information technology services, including application development and delivery, and shall serve as the single information technology authority for the Commonwealth.
(1) The Commonwealth Office of Technology shall be the lead organizational entity within the executive branch regarding delivery of information technology services, including application development and delivery, and shall serve as the single Page 78 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN information technology authority for the Commonwealth.
Page 80 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (c) Developing strategies and policies to support and promote the effective applications of information technology within state government as a means of saving money, increasing employee productivity, and improving state services to the public, including electronic public access to information of the Commonwealth;
(c) Developing strategies and policies to support and promote the effective applications of information technology within state government as a means of saving money, increasing employee productivity, and improving state services to the public, including electronic public access to information of the Commonwealth;
The Kentucky Retirement Systems, the County Employees Retirement System, the Kentucky Public Pensions Authority, and the Teachers' Retirement System;
The Kentucky Retirement Systems, the County Employees Retirement Page 79 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN System, the Kentucky Public Pensions Authority, and the Teachers' Retirement System;
Page 81 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (g) Facilitating and fostering applied research in emerging technologies that offer the Commonwealth innovative business solutions;
(g) Facilitating and fostering applied research in emerging technologies that offer the Commonwealth innovative business solutions;
(m) In cooperation with other agencies, evaluating, participating in pilot studies, and making recommendations on information technology hardware and software;
Page 80 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (m) In cooperation with other agencies, evaluating, participating in pilot studies, and making recommendations on information technology hardware and software;
Page 82 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (o) Overseeing the development of a statewide geographic information plan with input from the Geographic Information Advisory Council;
(o) Overseeing the development of a statewide geographic information plan with input from the Geographic Information Advisory Council;
(a) Provide general consulting services, technical training, and support for generic software applications, upon request from a local government, if the executive director finds that the requested services can be rendered within the established terms of the federally approved cost allocation plan;
Page 81 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (a) Provide general consulting services, technical training, and support for generic software applications, upon request from a local government, if the executive director finds that the requested services can be rendered within the established terms of the federally approved cost allocation plan;
(b) Promulgate administrative regulations in accordance with KRS Chapter 13A necessary for the implementation of KRS 42.720 to 42.742, 45.253, 171.420, Page 83 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 186A.040, 186A.285, and 194A.146;
(b) Promulgate administrative regulations in accordance with KRS Chapter 13A necessary for the implementation of KRS 42.720 to 42.742, 45.253, 171.420, 186A.040, 186A.285, and 194A.146;
and (g) Purchase interest in contractual services, rentals of all types, supplies, materials, equipment, and other services to be used in the research and development of beneficial applications of information resources technologies.
and (g) Purchase interest in contractual services, rentals of all types, supplies, materials, equipment, and other services to be used in the research and Page 82 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN development of beneficial applications of information resources technologies.
Page 84 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (4) Nothing in this section shall be construed to alter or diminish the provisions of KRS 171.410 to 171.740 or the authority conveyed by these statutes to the Archives and Records Commission and the Department for Libraries and Archives.
(4) Nothing in this section shall be construed to alter or diminish the provisions of KRS 171.410 to 171.740 or the authority conveyed by these statutes to the Archives and Records Commission and the Department for Libraries and Archives.
(2) The provisions of KRS 42.720 to 42.742, 45.253, 171.420, 186A.040, 186A.285, and 194A.146 shall not be construed to grant any authority over the judicial or legislative branches of state government, or agencies thereof, to the Commonwealth Office of Technology.
(2) The provisions of KRS 42.720 to 42.742, 45.253, 171.420, 186A.040, 186A.285, Page 83 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN and 194A.146 shall not be construed to grant any authority over the judicial or legislative branches of state government, or agencies thereof, to the Commonwealth Office of Technology.
(3) The information, technology, personnel, agency resources, and confidential records of the Kentucky Retirement Systems, the County Employees Retirement System, the Kentucky Public Pensions Authority, and the Kentucky Teachers' Retirement Page 85 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 System shall be excluded from the provisions of KRS 42.720 to 42.742, 45.253, 171.420, 186A.040, 186A.285, and 194A.146 and shall not be under the authority of the Commonwealth Office of Technology.
(3) The information, technology, personnel, agency resources, and confidential records of the Kentucky Retirement Systems, the County Employees Retirement System, the Kentucky Public Pensions Authority, and the Kentucky Teachers' Retirement System shall be excluded from the provisions of KRS 42.720 to 42.742, 45.253, 171.420, 186A.040, 186A.285, and 194A.146 and shall not be under the authority of the Commonwealth Office of Technology.
(b) No county shall file a petition as provided in the United States Bankruptcy Code[Federal Bankruptcy Act] unless the proposed plan is first approved by the state local debt officer and the state local finance officer, as defined in KRS 68.001.
(b) No county shall file a petition as provided in the United States Bankruptcy Page 84 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Code[Federal Bankruptcy Act] unless the proposed plan is first approved by the state local debt officer and the state local finance officer, as defined in KRS 68.001.
The state local debt officer and the state local finance officer shall approve or disapprove the Page 86 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 proposed plan of composition or any changes or modifications thereof under the same procedure and for the same reasons as bonds are approved or disapproved under KRS 66.280 to 66.390.
The state local debt officer and the state local finance officer shall approve or disapprove the proposed plan of composition or any changes or modifications thereof under the same procedure and for the same reasons as bonds are approved or disapproved under KRS 66.280 to 66.390.
(c) There shall be a statutory lien on the tax revenues pledged in favor of the holders of all bonds issued and leases entered into, effective by operation of law, that shall apply to all outstanding bonds payable from taxes adopted according to KRS 66.111(1) and leases payable from taxes adopted according to KRS 65.942(2), without priority of one (1) bond or lease over another bond or lease, regardless of when the bonds were issued or the lease was entered into.
(c) There shall be a statutory lien on the tax revenues pledged in favor of the holders of all bonds issued and leases entered into, effective by operation of law, that shall apply to all outstanding bonds payable from taxes adopted according to KRS 66.111(1) and leases payable from taxes adopted according Page 85 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN to KRS 65.942(2), without priority of one (1) bond or lease over another bond or lease, regardless of when the bonds were issued or the lease was entered into.
(e) The pledge of the tax shall constitute a sufficient appropriation, and the tax Page 87 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 revenues shall be applied as required by the pledge, without the requirement for further appropriation.
(e) The pledge of the tax shall constitute a sufficient appropriation, and the tax revenues shall be applied as required by the pledge, without the requirement for further appropriation.
(b) A court entering an order in response to a motion made by a local government under paragraph (a) of this subsection shall consider the ability of the local government to pay the judgment without a substantial disruption to the essential public services provided by the local government.
(b) A court entering an order in response to a motion made by a local government Page 86 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN under paragraph (a) of this subsection shall consider the ability of the local government to pay the judgment without a substantial disruption to the essential public services provided by the local government.
The funds available in the local government's current fiscal year and Page 88 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 other funds available to the local government to pay the damages in the remainder of the local government's fiscal year during which the final judgment was entered;
The funds available in the local government's current fiscal year and other funds available to the local government to pay the damages in the remainder of the local government's fiscal year during which the final judgment was entered;
(c) An order entered by the court establishing a periodic payment schedule shall specify the total amount awarded, the amount of each payment, the interval between payments, and the number of payments to be paid under the order.
(c) An order entered by the court establishing a periodic payment schedule shall specify the total amount awarded, the amount of each payment, the interval Page 87 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN between payments, and the number of payments to be paid under the order.
Page 89 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 The modification may include changes to the amount of payments, the number of payments, and the period of payments, but in no case shall an adjustment pursuant to this paragraph alter the total amount of damages to be paid, exclusive of interest, in the original order.
The modification may include changes to the amount of payments, the number of payments, and the period of payments, but in no case shall an adjustment pursuant to this paragraph alter the total amount of damages to be paid, exclusive of interest, in the original order.
(8) (a) Any order providing for the attachment, execution, garnishment, or seizure by other legal process of public property, including moneys, of a local government shall not impair the ability of the local government to continue to provide essential services to the public, including the payment of key personnel needed for the provision of those services and those employees necessary for the collection of revenues on behalf of the local government.
(8) (a) Any order providing for the attachment, execution, garnishment, or seizure by Page 88 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN other legal process of public property, including moneys, of a local government shall not impair the ability of the local government to continue to provide essential services to the public, including the payment of key personnel needed for the provision of those services and those employees necessary for the collection of revenues on behalf of the local government.
(b) In making a determination as to the appropriate extent of an order under this Page 90 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 subsection, a court shall consider but shall not be limited to the factors provided in subsection (6)(b) of this section.
(b) In making a determination as to the appropriate extent of an order under this subsection, a court shall consider but shall not be limited to the factors provided in subsection (6)(b) of this section.
(5) "Employee" means the members, officers, and employees of the General Assembly and every regular full-time, appointed or elective officer or employee of a participating department, including the Department of Military Affairs.
Page 89 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (5) "Employee" means the members, officers, and employees of the General Assembly and every regular full-time, appointed or elective officer or employee of a participating department, including the Department of Military Affairs.
Page 91 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (6) "Employer" means a department or any authority of a department having the power to appoint or select an employee in the department, including the Senate and the House of Representatives, or any other entity, the employees of which are eligible for membership in the system pursuant to KRS 61.525;
(6) "Employer" means a department or any authority of a department having the power to appoint or select an employee in the department, including the Senate and the House of Representatives, or any other entity, the employees of which are eligible for membership in the system pursuant to KRS 61.525;
An employee shall be credited with one (1) month of prior service only in those months he received compensation for at least one hundred (100) hours of work;
An employee shall be Page 90 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN credited with one (1) month of prior service only in those months he received compensation for at least one hundred (100) hours of work;
Page 92 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (12) "Accumulated contributions" at any time means the sum of all amounts deducted from the compensation of a member and credited to his individual account in the members' account, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4), together with interest credited[, or investment returns earned as provided by KRS 61.5956], on such amounts and any other amounts the member shall have contributed thereto, including interest credited thereon[ or investment returns earned as provided by KRS 61.5956].
(12) "Accumulated contributions" at any time means the sum of all amounts deducted from the compensation of a member and credited to his individual account in the members' account, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4), together with interest credited[, or investment returns earned as provided by KRS 61.5956], on such amounts and any other amounts the member shall have contributed thereto, including interest credited thereon[ or investment returns earned as provided by KRS 61.5956].
For members of the General Assembly, it shall mean all amounts which are includable on the member's federal form W- 2 wage and tax statement under the heading "wages, tips, other compensation," including employee contributions picked up after August 1, 1982, pursuant to KRS 6.505(4) or 61.560(4);
For members of the General Assembly, it shall mean all amounts which are includable on the member's federal form W- Page 91 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 2 wage and tax statement under the heading "wages, tips, other compensation," including employee contributions picked up after August 1, 1982, pursuant to KRS 6.505(4) or 61.560(4);
Lump-sum bonuses, severance pay, or employer-provided payments for purchase of service credit, which shall be averaged over the employee's Page 93 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 total service with the system in which it is recorded if it is equal to or greater than one thousand dollars ($1,000);
Lump-sum bonuses, severance pay, or employer-provided payments for purchase of service credit, which shall be averaged over the employee's total service with the system in which it is recorded if it is equal to or greater than one thousand dollars ($1,000);
Elective amounts for qualified transportation fringes paid or made available on or after January 1, 2001, for calendar years on or after January 1, 2001, that are not includable in the gross income of the employee by reason of 26 U.S.C.
Elective amounts for qualified transportation fringes paid or made Page 92 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN available on or after January 1, 2001, for calendar years on or after January 1, 2001, that are not includable in the gross income of the employee by reason of 26 U.S.C.
[Uniform, equipment, or any other expense allowances paid on or after January 1, 2019, ]Living allowances, expense reimbursements, lump- Page 94 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 sum payments for accrued vacation leave, and other items determined by the board;
[Uniform, equipment, or any other expense allowances paid on or after January 1, 2019, ]Living allowances, expense reimbursements, lump- sum payments for accrued vacation leave, and other items determined by the board;
If the number of months of service credit during the five (5) year period is less than forty-eight (48)[ for members retiring prior to January 1, 2019], one (1) or more additional fiscal years shall be used[.
If the number of months of service credit during the five (5) year period is less Page 93 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN than forty-eight (48)[ for members retiring prior to January 1, 2019], one (1) or more additional fiscal years shall be used[.
If a member retiring on or after January 1, 2019, does not have five (5) complete fiscal years that each contain twelve (12) months of service credit, then one (1) or more additional fiscal years, which may contain less than twelve (12) months of service credit, shall be added until the number of months in the final compensation calculation is Page 95 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 at least sixty (60) months];
If a member retiring on or after January 1, 2019, does not have five (5) complete fiscal years that each contain twelve (12) months of service credit, then one (1) or more additional fiscal years, which may contain less than twelve (12) months of service credit, shall be added until the number of months in the final compensation calculation is at least sixty (60) months];
If the number of months of service credit during the three (3) year period is less than twenty-four (24), one (1) or more additional fiscal years shall be used;
If the number of months of service credit during Page 94 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the three (3) year period is less than twenty-four (24), one (1) or more additional fiscal years shall be used;
Each fiscal year Page 96 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 used to determine final compensation must contain twelve (12) months of service credit.
Each fiscal year used to determine final compensation must contain twelve (12) months of service credit.
(15) "Final rate of pay" means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4).
(15) "Final rate of pay" means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the Page 95 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN member's effective retirement date, including employee contributions picked up after August 1, 1982, pursuant to KRS 61.560(4).
two thousand eighty (2,080) hours for eight (8) hour workdays, nineteen hundred fifty (1,950) hours for seven and one-half (7-1/2) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, Page 97 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 one (1) year;
two thousand eighty (2,080) hours for eight (8) hour workdays, nineteen hundred fifty (1,950) hours for seven and one-half (7-1/2) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;
The term shall also apply to assistants who were employed by the General Assembly for at least one (1) regular legislative session prior to July 13, 2004, who elect to participate in the retirement system, and who serve for at least six (6) regular legislative sessions.
The term shall also apply to assistants who were employed by the General Assembly for at least one (1) regular legislative session prior to July 13, 2004, who elect to participate in the retirement system, and Page 96 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN who serve for at least six (6) regular legislative sessions.
Page 98 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (a) Seasonal positions, which although temporary in duration, are positions which coincide in duration with a particular season or seasons of the year and which may recur regularly from year to year, the period of time shall not exceed nine (9) months;
(a) Seasonal positions, which although temporary in duration, are positions which coincide in duration with a particular season or seasons of the year and which may recur regularly from year to year, the period of time shall not exceed nine (9) months;
In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;
In determining Page 97 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;
(23) "Parted employer" means a department, portion of a department, board, or agency, such as Outwood Hospital and School, which previously participated in the system, but due to lease or other contractual arrangement is now operated by a publicly held corporation or other similar organization, and therefore is no longer participating in Page 99 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the system.
(23) "Parted employer" means a department, portion of a department, board, or agency, such as Outwood Hospital and School, which previously participated in the system, but due to lease or other contractual arrangement is now operated by a publicly held corporation or other similar organization, and therefore is no longer participating in the system.
(28) "Level percentage of payroll amortization method"["Level dollar amortization method"] means a method of determining the annual amortization payment on the unfunded actuarial accrued liability [that is set ]as expressed as a percentage of payroll[an equal dollar amount] over a set period of years[the remaining amortization period as of the actuarial valuation date].
(28) "Level percentage of payroll amortization method"["Level dollar amortization method"] means a method of determining the annual amortization payment on the unfunded actuarial accrued liability [that is set ]as expressed as a percentage of payroll[an equal dollar amount] over a set period of years[the remaining Page 98 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN amortization period as of the actuarial valuation date].
Page 100 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (30) "Person" means a natural person;
(30) "Person" means a natural person;
(a) The date upon which the member began participating in the system as provided in KRS 61.543;
Page 99 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (a) The date upon which the member began participating in the system as provided in KRS 61.543;
Page 101 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 403(b);
403(b);
or (c) For nonhazardous members who are participating in the 401(a) money purchase plan as provided by KRS 61.5956, the combined sum of the member's accumulated contribution and the member's accumulated employer contribution in the 401(a) money purchase plan];
or Page 100 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (c) For nonhazardous members who are participating in the 401(a) money purchase plan as provided by KRS 61.5956, the combined sum of the member's accumulated contribution and the member's accumulated employer contribution in the 401(a) money purchase plan];
(a) Freely and without pressure or coercion performs hours of service for an Page 102 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 employer participating in one (1) of the systems administered by Kentucky Retirement Systems without receipt of compensation for services rendered, except for reimbursement of actual expenses, payment of a nominal fee to offset the costs of performing the voluntary services, or both;
(a) Freely and without pressure or coercion performs hours of service for an employer participating in one (1) of the systems administered by Kentucky Retirement Systems without receipt of compensation for services rendered, except for reimbursement of actual expenses, payment of a nominal fee to offset the costs of performing the voluntary services, or both;
(46) "Authority" means the Kentucky Public Pensions Authority as provided by Section 2 of this Act;
Page 101 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (46) "Authority" means the Kentucky Public Pensions Authority as provided by Section 2 of this Act;
Notwithstanding any other provision of KRS 61.510 to 61.705 or 78.510 to 78.852 to the Page 103 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 contrary:
Notwithstanding any other provision of KRS 61.510 to 61.705 or 78.510 to 78.852 to the contrary:
(b) Be required to involuntarily cease participation in the system under the provisions of this section if the board has determined the employer is no longer qualified to participate in a governmental plan or has failed to comply with the provisions of KRS 61.510 to 61.705[ or 78.510 to 78.852];
(b) Be required to involuntarily cease participation in the system under the Page 102 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN provisions of this section if the board has determined the employer is no longer qualified to participate in a governmental plan or has failed to comply with the provisions of KRS 61.510 to 61.705[ or 78.510 to 78.852];
For those Page 104 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Kentucky Employees Retirement System nonhazardous employers who are considering ceasing participating in the system under the provisions of subsection (8) of this section on June 30, 2020, the request for an estimate to voluntarily cease participating must be made prior to December 31, 2019, and the estimate shall be provided to that employer within sixty (60) days of the request, except that no estimate shall be required to be provided prior to January 31, 2020;
For those Kentucky Employees Retirement System nonhazardous employers who are considering ceasing participating in the system under the provisions of subsection (8) of this section on June 30, 2020, the request for an estimate to voluntarily cease participating must be made prior to December 31, 2019, and the estimate shall be provided to that employer within sixty (60) days of the request, except that no estimate shall be required to be provided prior to January 31, 2020;
The employer shall pay for all administrative costs of an actuarial study to be completed by the Kentucky Retirement Systems' consulting actuary and for any other administrative costs for discontinuing participation in the system as determined by the board and as provided by this section;
The employer shall pay for all administrative costs of an actuarial study to be completed by the Kentucky Retirement Systems' consulting actuary and for any other administrative costs for discontinuing participation in Page 103 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the system as determined by the board and as provided by this section;
The employer shall provide an alternative retirement program for employees who will no longer be covered by the system, which may include a voluntary defined contribution plan but, for Kentucky Employees Retirement System employers with effective cessation dates occurring on or after June 30, 2020, the alternative retirement program Page 105 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 shall not include a defined benefit plan which by its nature can have an unfunded liability;
The employer shall provide an alternative retirement program for employees who will no longer be covered by the system, which may include a voluntary defined contribution plan but, for Kentucky Employees Retirement System employers with effective cessation dates occurring on or after June 30, 2020, the alternative retirement program shall not include a defined benefit plan which by its nature can have an unfunded liability;
If the employer makes an election for employees to continue to participate in the system as provided by subsection (8)(d)2.
If the Page 104 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN employer makes an election for employees to continue to participate in the system as provided by subsection (8)(d)2.
The full actuarial cost shall not include any employee who seeks a transfer of his or her account balance Page 106 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 within sixty (60) days of the employer's effective cessation date as provided by subparagraph 5.
The full actuarial cost shall not include any employee who seeks a transfer of his or her account balance within sixty (60) days of the employer's effective cessation date as provided by subparagraph 5.
1.
Page 105 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 1.
Page 107 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 and 3.
and 3.
(a) The rights of recipients and the vested rights of inactive members accrued as of the employer's effective cessation date shall not be impaired or reduced in any manner as a result of the employer ceasing participation in the system;
(a) The rights of recipients and the vested rights of inactive members accrued as Page 106 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN of the employer's effective cessation date shall not be impaired or reduced in any manner as a result of the employer ceasing participation in the system;
of this section, employees of the employer ceasing participation shall accrue benefits through the employer's effective cessation date but shall not accrue any additional benefits in the Kentucky Employees Retirement System[ or the County Employees Page 108 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Retirement System], including earning years of service credit through the ceased employer, after the employer's effective cessation date for as long as they remain employed by the employer.
of this section, employees of the employer ceasing participation shall accrue benefits through the employer's effective cessation date but shall not accrue any additional benefits in the Kentucky Employees Retirement System[ or the County Employees Retirement System], including earning years of service credit through the ceased employer, after the employer's effective cessation date for as long as they remain employed by the employer.
(6) [(a) ]Kentucky Employees Retirement System employers who are county attorney offices, Commonwealth's attorney offices, local and district health departments governed by KRS Chapter 212, master commissioners, executive branch agencies whose employees are subject to KRS 18A.005 to 18A.200, state-administered retirement systems, state-supported universities and community colleges, property valuation administration offices, or employers in the legislative or judicial branch of Kentucky state government, shall not be eligible to voluntarily discontinue participation in the Kentucky Employees Retirement System, except that:
(6) [(a) ]Kentucky Employees Retirement System employers who are county attorney offices, Commonwealth's attorney offices, local and district health departments governed by KRS Chapter 212, master commissioners, executive branch agencies whose employees are subject to KRS 18A.005 to 18A.200, state-administered Page 107 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN retirement systems, state-supported universities and community colleges, property valuation administration offices, or employers in the legislative or judicial branch of Kentucky state government, shall not be eligible to voluntarily discontinue participation in the Kentucky Employees Retirement System, except that:
and Page 109 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 2.
and 2.
(b) Four and one-half percent (4.5%) for those Kentucky Employees Retirement System employers who voluntarily cease participation under the provisions of subsection (8) of this section who pay the costs of ceasing participation by lump-sum payment by June 30, 2021, and who do not make an election for their employees to continue to participate in the system after the employer's effective cessation date as provided by subsection (8)(d)3.
(b) Four and one-half percent (4.5%) for those Kentucky Employees Retirement Page 108 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN System employers who voluntarily cease participation under the provisions of subsection (8) of this section who pay the costs of ceasing participation by lump-sum payment by June 30, 2021, and who do not make an election for their employees to continue to participate in the system after the employer's effective cessation date as provided by subsection (8)(d)3.
(c) Three and one-half percent (3.5%) for those Kentucky Employees Retirement Page 110 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 System employers who voluntarily cease participation under the provisions of subsection (8) of this section who pay the costs of ceasing participation by lump-sum payment by June 30, 2021, and who do make an election for employees to continue to participate in the system after the employer's effective cessation date as provided by subsection (8)(d)2.
(c) Three and one-half percent (3.5%) for those Kentucky Employees Retirement System employers who voluntarily cease participation under the provisions of subsection (8) of this section who pay the costs of ceasing participation by lump-sum payment by June 30, 2021, and who do make an election for employees to continue to participate in the system after the employer's effective cessation date as provided by subsection (8)(d)2.
(8) Notwithstanding the provisions of this section, any Kentucky Employees Retirement System employer who is eligible to voluntarily cease participating as provided by subsection (6) of this section may, on or after April 1, 2020, but prior to May 1, 2020, elect to voluntarily cease participating in the systems for its nonhazardous employees by submitting a resolution in accordance with subsection (3)(a)1.
(8) Notwithstanding the provisions of this section, any Kentucky Employees Retirement System employer who is eligible to voluntarily cease participating as provided by subsection (6) of this section may, on or after April 1, 2020, but prior to May 1, 2020, elect to voluntarily cease participating in the systems for its Page 109 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN nonhazardous employees by submitting a resolution in accordance with subsection (3)(a)1.
Prior to May 1, 2020, an employer may rescind a previously submitted Page 111 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 election to cease participation;
Prior to May 1, 2020, an employer may rescind a previously submitted election to cease participation;
of this section, shall, notwithstanding KRS 61.597, receive a transfer of the employee's accumulated account balance, including the entire accumulated employer credit, regardless of the employee's years of service credit;
of this section, shall, notwithstanding KRS 61.597, receive a transfer of the employee's accumulated account balance, including the entire accumulated employer credit, regardless of the employee's Page 110 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN years of service credit;
of this section, make an election as to whether or not nonhazardous employees hired prior to the employer's effective cessation date, who began participating in the systems administered by Kentucky Retirement Systems prior to January 1, 2014, who are Page 112 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 participating in the systems administered by Kentucky Retirement Systems through the employer, will continue to participate in the system after the employer's effective cessation date.
of this section, make an election as to whether or not nonhazardous employees hired prior to the employer's effective cessation date, who began participating in the systems administered by Kentucky Retirement Systems prior to January 1, 2014, who are participating in the systems administered by Kentucky Retirement Systems through the employer, will continue to participate in the system after the employer's effective cessation date.
of this section;
of this Page 111 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN section;
(f) The employer may pay the full actuarial cost of ceasing participation by lump- Page 113 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 sum payment or in installments as provided by paragraph (g) of this subsection;
(f) The employer may pay the full actuarial cost of ceasing participation by lump- sum payment or in installments as provided by paragraph (g) of this subsection;
2.
Page 112 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 2.
If an employer is not projected by the systems to pay off the full Page 114 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 actuarial costs to cease participation with interest as provided by subparagraph 2.
If an employer is not projected by the systems to pay off the full actuarial costs to cease participation with interest as provided by subparagraph 2.
The system may request in future biennial executive branch budgets the additional funding needed on an annual basis to fully pay off the installments at the conclusion of the thirty (30) year period for the employers described by this paragraph, and it is the intent of the General Assembly to pay the additional funding needed by appropriation in the biennial executive branch budget.
The system may request in future Page 113 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN biennial executive branch budgets the additional funding needed on an annual basis to fully pay off the installments at the conclusion of the thirty (30) year period for the employers described by this paragraph, and it is the intent of the General Assembly to pay the additional funding needed by appropriation in the biennial executive branch budget.
An employer ceasing participation who is making installment payments as Page 115 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 provided by this paragraph may at any time pay off a portion of the remaining balance or the entire remaining balance and shall not be charged any interest for periods beyond the pay-off date for the balance that is paid off;
An employer ceasing participation who is making installment payments as provided by this paragraph may at any time pay off a portion of the remaining balance or the entire remaining balance and shall not be charged any interest for periods beyond the pay-off date for the balance that is paid off;
(10) (a) Any employer who voluntarily ceases participation, or who is required to involuntarily cease participation as provided in this section, shall hold the Commonwealth and the Kentucky Retirement Systems, including board members and employees of the Kentucky Retirement Systems, harmless from damages, attorney's fees and costs from legal claims for any cause of action brought by any member or retired member of the departing employer related to the employer's cessation of participation as set forth in this section.
(10) (a) Any employer who voluntarily ceases participation, or who is required to involuntarily cease participation as provided in this section, shall hold the Page 114 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Commonwealth and the Kentucky Retirement Systems, including board members and employees of the Kentucky Retirement Systems, harmless from damages, attorney's fees and costs from legal claims for any cause of action brought by any member or retired member of the departing employer related to the employer's cessation of participation as set forth in this section.
(b) Any employer who is voluntarily ceasing participation under the provisions of Page 116 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 subsection (8) of this section shall be required to pledge any security in any relevant real estate, chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letters of credit rights, and money to the costs of ceasing participation until all costs of ceasing participation are paid in full;
(b) Any employer who is voluntarily ceasing participation under the provisions of subsection (8) of this section shall be required to pledge any security in any relevant real estate, chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letters of credit rights, and money to the costs of ceasing participation until all costs of ceasing participation are paid in full;
or (f) For persons hired on or after August 1, 2000, upon conviction of a felony relating to the person's employment as provided in subsection (3) of this section.
or (f) For persons hired on or after August 1, 2000, upon conviction of a felony relating to the person's employment as provided in subsection (3) of this Page 115 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN section.
(2) For purposes of KRS 61.510 to 61.705 and[,] 16.505 to 16.652, [and 78.510 to 78.852, ]termination of employment with prejudice shall mean termination as the result of conviction of the member in a court of competent jurisdiction of embezzlement or larceny of public funds or property or malfeasance in office, or the forcing of a member to make restitution for any funds or property criminally taken Page 117 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 by said member at the time of termination of employment.
(2) For purposes of KRS 61.510 to 61.705 and[,] 16.505 to 16.652, [and 78.510 to 78.852, ]termination of employment with prejudice shall mean termination as the result of conviction of the member in a court of competent jurisdiction of embezzlement or larceny of public funds or property or malfeasance in office, or the forcing of a member to make restitution for any funds or property criminally taken by said member at the time of termination of employment.
Employer contributions for each respective retirement system shall be equal to the sum of the "normal cost contribution" and the "actuarially accrued liability contribution." (b) For purposes of this section, the normal cost contribution shall be computed as a percentage of pay and shall be an annual amount that is sufficient when combined with employee contributions to fund benefits earned during the year in the respective system[ or plan, including costs for those members who elect to participate in the 401(a) money purchase plan].
Employer contributions for each respective retirement system shall be equal to the sum of the "normal cost contribution" and the "actuarially accrued liability contribution." Page 116 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (b) For purposes of this section, the normal cost contribution shall be computed as a percentage of pay and shall be an annual amount that is sufficient when combined with employee contributions to fund benefits earned during the year in the respective system[ or plan, including costs for those members who elect to participate in the 401(a) money purchase plan].
The amount shall be paid as a percentage of creditable compensation reported for each employee Page 118 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 participating in the system or plan and accruing benefits.
The amount shall be paid as a percentage of creditable compensation reported for each employee participating in the system or plan and accruing benefits.
(f) The dollar value of the actuarially accrued liability contribution specified by paragraph (c) of this subsection payable by each individual system employer based upon the 2019 actuarial valuation shall be prorated based upon the individual employer's average percentage of the total creditable compensation reported by all employers in the specific system in fiscal years 2014-2015, 2015-2016, and 2016-2017, except that the amount shall:
Page 117 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (f) The dollar value of the actuarially accrued liability contribution specified by paragraph (c) of this subsection payable by each individual system employer based upon the 2019 actuarial valuation shall be prorated based upon the individual employer's average percentage of the total creditable compensation reported by all employers in the specific system in fiscal years 2014-2015, 2015-2016, and 2016-2017, except that the amount shall:
Page 119 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 1.
1.
(c) Effective for employer contribution rates payable on or after July 1, 2014[, through June 30, 2020], the board shall not have the authority to amend contribution rates as of July 1 of the second year of the biennium for the Kentucky Employees Retirement System and the State Police Retirement System.
(c) Effective for employer contribution rates payable on or after July 1, 2014[, through June 30, 2020], the board shall not have the authority to amend contribution rates as of July 1 of the second year of the biennium for the Kentucky Employees Retirement System and the State Police Retirement Page 118 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN System.
Based on the employer contribution rate, each employer shall include in the budget sufficient funds to pay the employer contributions as determined by the Page 120 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 board under this section.
Based on the employer contribution rate, each employer shall include in the budget sufficient funds to pay the employer contributions as determined by the board under this section.
4318 for his period of active military duty in the Armed Forces of the United States, not to exceed six (6) years, if:
4318 for his period of active military duty in the Armed Forces of the United States, not to exceed six (6) Page 119 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN years, if:
The member returns to work with an employer participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems or County Employees Retirement System within two (2) years Page 121 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 after completion of the period of active military duty, or upon the subsequent termination of any total disability which existed at the expiration of the two (2) years after discharge.
The member returns to work with an employer participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems or County Employees Retirement System within two (2) years after completion of the period of active military duty, or upon the subsequent termination of any total disability which existed at the expiration of the two (2) years after discharge.
(2) (a) After August 1, 1998, any employee who, prior to the date he first participated in the system, terminated his employment with an agency participating in one (1) of the systems administered by the Kentucky Retirement Systems or County Employees Retirement System and within three (3) months entered the Armed Forces of the United States and who returns to work with an employer participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems or County Employees Retirement System within two (2) years after completion of the period of active military duty, or upon the subsequent termination of any total disability which existed at the Page 122 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 expiration of the two (2) years after discharge, shall be credited for retirement purposes with service credit and creditable compensation as provided in 38 U.S.C.
(2) (a) After August 1, 1998, any employee who, prior to the date he first participated in the system, terminated his employment with an agency participating in one (1) of the systems administered by the Kentucky Retirement Systems or Page 120 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN County Employees Retirement System and within three (3) months entered the Armed Forces of the United States and who returns to work with an employer participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems or County Employees Retirement System within two (2) years after completion of the period of active military duty, or upon the subsequent termination of any total disability which existed at the expiration of the two (2) years after discharge, shall be credited for retirement purposes with service credit and creditable compensation as provided in 38 U.S.C.
(3) Any National Guard technician involuntarily serving on active military duty during the period between January 26, 1968, and January 1, 1970, who completes his eight (8) years' service while on military duty during this period, shall have that portion of his active military duty, necessary to the completion of eight (8) years' current service, credited to his account, as current service without having to meet the reemployment criteria.
(3) Any National Guard technician involuntarily serving on active military duty during Page 121 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the period between January 26, 1968, and January 1, 1970, who completes his eight (8) years' service while on military duty during this period, shall have that portion of his active military duty, necessary to the completion of eight (8) years' current service, credited to his account, as current service without having to meet the reemployment criteria.
(4) Any employee eligible for retirement as prescribed in KRS 61.559 or any employee Page 123 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 upon completion of five (5) years of service shall receive current service credit for a maximum of four (4) years for his period of active military duty in the Armed Forces of the United States, if his military service was terminated in a manner other than as described in 38 U.S.C.
(4) Any employee eligible for retirement as prescribed in KRS 61.559 or any employee upon completion of five (5) years of service shall receive current service credit for a maximum of four (4) years for his period of active military duty in the Armed Forces of the United States, if his military service was terminated in a manner other than as described in 38 U.S.C.
(6) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems or County Employees Retirement System age sixty- five (65) or older who has forty-eight (48) months of service, at least twelve (12) of which are current service, or if younger who has sixty (60) months of service, at least twelve (12) of which are current service shall receive current service for his period of active military duty in the Armed Forces of the United States, if his military service was terminated in a manner other than as described in 38 U.S.C.
(6) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems or County Employees Retirement System age sixty- Page 122 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN five (65) or older who has forty-eight (48) months of service, at least twelve (12) of which are current service, or if younger who has sixty (60) months of service, at least twelve (12) of which are current service shall receive current service for his period of active military duty in the Armed Forces of the United States, if his military service was terminated in a manner other than as described in 38 U.S.C.
4304 and he has not been credited with the service under subsections (1) to (4) Page 124 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 of this section, by paying the retirement system a delayed contribution payment in accordance with the payment options and restrictions established by KRS 61.552(14).
4304 and he has not been credited with the service under subsections (1) to (4) of this section, by paying the retirement system a delayed contribution payment in accordance with the payment options and restrictions established by KRS 61.552(14).
(8) For members who begin participating in the systems administered by Kentucky Retirement Systems or County Employees Retirement System on or after January 1, 2014, in the hybrid cash balance plan prescribed by KRS 16.583 and 61.597[, and for members who make an election to participate in the 401(a) money purchase plan as provided by KRS 21.374, 61.5955, or 61.5956], the provisions of subsections (4) to (7) of this section shall not apply.
(8) For members who begin participating in the systems administered by Kentucky Retirement Systems or County Employees Retirement System on or after January 1, 2014, in the hybrid cash balance plan prescribed by KRS 16.583 and 61.597[, and Page 123 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN for members who make an election to participate in the 401(a) money purchase plan as provided by KRS 21.374, 61.5955, or 61.5956], the provisions of subsections (4) to (7) of this section shall not apply.
(1) (a) "Hazardous position" for employees participating in the Kentucky Employees Retirement System, and for employees who begin participating in the County Page 125 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Employees Retirement System before September 1, 2008, means:
(1) (a) "Hazardous position" for employees participating in the Kentucky Employees Retirement System, and for employees who begin participating in the County Employees Retirement System before September 1, 2008, means:
The employee's duties require frequent exposure to a high degree of danger or peril and a high degree of physical conditioning;
The employee's duties require frequent exposure to a high degree of Page 124 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN danger or peril and a high degree of physical conditioning;
Page 126 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (2) (a) Each employer may request of the board hazardous duty coverage for those positions as defined in subsection (1) of this section.
(2) (a) Each employer may request of the board hazardous duty coverage for those positions as defined in subsection (1) of this section.
The certification of the employer shall bear the approval of the agent or agency responsible for the budget of the department or county indicating that the required employer contributions have been provided for in the budget of the employing department or county.
The Page 125 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN certification of the employer shall bear the approval of the agent or agency responsible for the budget of the department or county indicating that the required employer contributions have been provided for in the budget of the employing department or county.
Each employer shall also certify, under penalty of perjury in accordance with KRS Chapter 523, that each employee's actual job duties are accurately reflected in the job description provided to the Page 127 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 system.
Each employer shall also certify, under penalty of perjury in accordance with KRS Chapter 523, that each employee's actual job duties are accurately reflected in the job description provided to the system.
(b) Each employer shall pay employer contributions based on the creditable compensation of the employees determined by the system to be working in a hazardous position at the employer contribution rate as determined by the board.
(b) Each employer shall pay employer contributions based on the creditable compensation of the employees determined by the system to be working in a Page 126 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN hazardous position at the employer contribution rate as determined by the board.
(c) If the employer participated in the system prior to electing hazardous duty coverage, the employer may pay to the system the cost of converting the nonhazardous service to hazardous service from the date of participation to Page 128 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the date the payment is made, or the employer may establish a payment schedule for payment of the cost of the hazardous service above that which would be funded within the existing employer contribution rate.
(c) If the employer participated in the system prior to electing hazardous duty coverage, the employer may pay to the system the cost of converting the nonhazardous service to hazardous service from the date of participation to the date the payment is made, or the employer may establish a payment schedule for payment of the cost of the hazardous service above that which would be funded within the existing employer contribution rate.
(4) The normal retirement age, retirement allowance, hybrid cash balance plans, other benefits, eligibility requirements, rights, and responsibilities of a member in a hazardous position, as prescribed by subsections (1), (2), and (3) of this section, and the responsibilities, rights, and requirements of his employer shall be as prescribed for a member and employer participating in the State Police Retirement System as provided for by KRS 16.505 to 16.652.
(4) The normal retirement age, retirement allowance, hybrid cash balance plans, other benefits, eligibility requirements, rights, and responsibilities of a member in a hazardous position, as prescribed by subsections (1), (2), and (3) of this section, and the responsibilities, rights, and requirements of his employer shall be as prescribed for a member and employer participating in the State Police Retirement System as Page 127 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN provided for by KRS 16.505 to 16.652.
(6) If doubt exists regarding the benefits payable to a hazardous position employee Page 129 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 under this section, the board shall determine the benefits payable under KRS 61.510 to 61.705, or 78.510 to 78.852, or 16.505 to 16.652.
(6) If doubt exists regarding the benefits payable to a hazardous position employee under this section, the board shall determine the benefits payable under KRS 61.510 to 61.705, or 78.510 to 78.852, or 16.505 to 16.652.
(4) (a) Notwithstanding the provisions of this section, the payments suspended in accordance with subsection (1) of this section shall be paid retroactively to the retired member, or his estate, if he does not receive more than the maximum permissible earnings as provided by the Federal Social Security Act in compensation from participating agencies during any calendar year of reemployment.
Page 128 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (4) (a) Notwithstanding the provisions of this section, the payments suspended in accordance with subsection (1) of this section shall be paid retroactively to the retired member, or his estate, if he does not receive more than the maximum permissible earnings as provided by the Federal Social Security Act in compensation from participating agencies during any calendar year of reemployment.
Page 130 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) If the retired member is paid suspended payments retroactively in accordance with this section, employee contributions deducted during his period of reemployment, if any, shall be refunded to the retired employee, and no service credit shall be earned for the period of reemployment.
(b) If the retired member is paid suspended payments retroactively in accordance with this section, employee contributions deducted during his period of reemployment, if any, shall be refunded to the retired employee, and no service credit shall be earned for the period of reemployment.
4.
Page 129 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 4.
and Page 131 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 5.
and 5.
(b) A retired member who has been ordered reinstated by the Personnel Board under authority of KRS 18A.095 or by court order or by order of the Human Rights Commission and accepts employment by an agency participating in the Kentucky Employees Retirement System or County Employees Retirement System shall void his retirement by reimbursing the system in the full amount of his retirement allowance payments received.
(b) A retired member who has been ordered reinstated by the Personnel Board under authority of KRS 18A.095 or by court order or by order of the Human Rights Commission and accepts employment by an agency participating in the Kentucky Employees Retirement System or County Employees Retirement System shall void his retirement by reimbursing the system in the full amount Page 130 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN of his retirement allowance payments received.
Any retired member whose reemployment date preceded Page 132 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 August 1, 1998, who does not elect, within sixty (60) days of notification by the retirement systems, to remain under the provisions of subsections (1) to (4) of this section shall be deemed to have elected to participate under this subsection.
Any retired member whose reemployment date preceded August 1, 1998, who does not elect, within sixty (60) days of notification by the retirement systems, to remain under the provisions of subsections (1) to (4) of this section shall be deemed to have elected to participate under this subsection.
(8) If a retired member accepts employment or begins serving as a volunteer with an employer participating in the systems administered by Kentucky Retirement Systems or County Employees Retirement System within twelve (12) months of his or her retirement date, the retired member shall notify the retirement system and the participating employer shall submit the information required or requested by the systems to confirm the individual's employment or volunteer status.
(8) If a retired member accepts employment or begins serving as a volunteer with an employer participating in the systems administered by Kentucky Retirement Systems or County Employees Retirement System within twelve (12) months of his or her retirement date, the retired member shall notify the retirement system and the participating employer shall submit the information required or requested by the Page 131 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN systems to confirm the individual's employment or volunteer status.
(9) If the retired member is under a contract to provide services as an independent contractor or leased employee to an employer participating in the systems Page 133 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 administered by Kentucky Retirement Systems or County Employees Retirement System within twelve (12) months of his or her retirement date, the member shall submit a copy of that contract to the retirement system, and the retirement system shall determine if the member is an independent contractor or leased employee for purposes of retirement benefits.
(9) If the retired member is under a contract to provide services as an independent contractor or leased employee to an employer participating in the systems administered by Kentucky Retirement Systems or County Employees Retirement System within twelve (12) months of his or her retirement date, the member shall submit a copy of that contract to the retirement system, and the retirement system shall determine if the member is an independent contractor or leased employee for purposes of retirement benefits.
(11) (a) If a member of the Kentucky Employees Retirement System retires from a department which participates in more than one (1) retirement system and is reemployed within one (1) month of his initial retirement date by the same department in a position participating in another retirement system, the retired member's retirement allowance shall be suspended for the first month of his retirement and the member shall repay to the retirement system all benefits received for the month.
(11) (a) If a member of the Kentucky Employees Retirement System retires from a department which participates in more than one (1) retirement system and is Page 132 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN reemployed within one (1) month of his initial retirement date by the same department in a position participating in another retirement system, the retired member's retirement allowance shall be suspended for the first month of his retirement and the member shall repay to the retirement system all benefits received for the month.
(b) A retired member of the County Employees Retirement System who after Page 134 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 initial retirement is hired by the county from which the member retired shall be considered to have been hired by the same employer.
(b) A retired member of the County Employees Retirement System who after initial retirement is hired by the county from which the member retired shall be considered to have been hired by the same employer.
(c) Upon termination, or subsequent to expiration of the six (6) month period from the date of termination, the retired member's retirement allowance based on his initial retirement account shall no longer be suspended and the member shall receive the amount to which he is entitled, including an increase as provided by KRS 61.691;
Page 133 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (c) Upon termination, or subsequent to expiration of the six (6) month period from the date of termination, the retired member's retirement allowance based on his initial retirement account shall no longer be suspended and the member shall receive the amount to which he is entitled, including an increase as provided by KRS 61.691;
(d) Except as provided in subsection (7) of this section, if the position in which a Page 135 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 retired member is employed after initial retirement is a regular full-time position, the retired member shall contribute to a second member account established for him in the retirement system.
(d) Except as provided in subsection (7) of this section, if the position in which a retired member is employed after initial retirement is a regular full-time position, the retired member shall contribute to a second member account established for him in the retirement system.
(16) A retired member who is reemployed and contributing to a second member account shall not be eligible to purchase service credit under any of the provisions of KRS 16.505 to 16.652, 61.510 to 61.705, or 78.510 to 78.852 which he was eligible to purchase prior to his initial retirement.
Page 134 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (16) A retired member who is reemployed and contributing to a second member account shall not be eligible to purchase service credit under any of the provisions of KRS 16.505 to 16.652, 61.510 to 61.705, or 78.510 to 78.852 which he was eligible to purchase prior to his initial retirement.
(17) Notwithstanding any provision of subsections (1) to (7)(a) and (10) to (15) of this section, the following shall apply to retired members who are reemployed by an Page 136 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 agency participating in one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System on or after September 1, 2008:
(17) Notwithstanding any provision of subsections (1) to (7)(a) and (10) to (15) of this section, the following shall apply to retired members who are reemployed by an agency participating in one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System on or after September 1, 2008:
The member shall contribute to a member account established for him or her in one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System, and employer contributions shall be paid on behalf of the member by the participating employer;
The member shall contribute to a member account established for him or her in one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System, and employer Page 135 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN contributions shall be paid on behalf of the member by the participating employer;
Page 137 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) Except as provided by paragraphs (c) and (d) of this subsection, if a member is receiving a retirement allowance from one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System and is employed in a regular full-time position required to participate in one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System after a three (3) month period following the member's initial retirement date, the member may continue to receive his or her retirement allowance during the period of reemployment subject to the following provisions:
(b) Except as provided by paragraphs (c) and (d) of this subsection, if a member is receiving a retirement allowance from one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System and is employed in a regular full-time position required to participate in one (1) of the systems administered by Kentucky Retirement Systems or County Employees Retirement System after a three (3) month period following the member's initial retirement date, the member may continue to receive his or her retirement allowance during the period of reemployment subject to the following provisions:
If the participating agency fails to complete the certification, the member's retirement shall be voided and the provisions of paragraph (a) of this subsection shall apply to the member and the employer.
If the participating agency fails to complete the certification, the member's retirement shall be voided and the provisions of paragraph (a) Page 136 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN of this subsection shall apply to the member and the employer.
Notwithstanding any other provision of KRS Chapter 16, 61, or 78 to the contrary, the member shall not contribute to the systems and shall Page 138 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 not earn any additional benefits for any work performed during the period of reemployment;
Notwithstanding any other provision of KRS Chapter 16, 61, or 78 to the contrary, the member shall not contribute to the systems and shall not earn any additional benefits for any work performed during the period of reemployment;
(c) If a member is receiving a retirement allowance from the State Police Retirement System or from hazardous duty retirement coverage with the Kentucky Employees Retirement System or the County Employees Retirement System, or has filed the forms required to receive a retirement allowance from the State Police Retirement System or from hazardous duty retirement coverage with the Kentucky Employees Retirement System or the County Employees Retirement System, and is employed in a regular full-time position required to participate in the State Police Retirement System or in a hazardous Page 139 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 duty position with the Kentucky Employees Retirement System or the County Employees Retirement System within one (1) month following the member's initial retirement date, the member's retirement shall be voided, and the member shall repay to the retirement system all benefits received, including any health insurance benefits.
(c) If a member is receiving a retirement allowance from the State Police Retirement System or from hazardous duty retirement coverage with the Page 137 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Kentucky Employees Retirement System or the County Employees Retirement System, or has filed the forms required to receive a retirement allowance from the State Police Retirement System or from hazardous duty retirement coverage with the Kentucky Employees Retirement System or the County Employees Retirement System, and is employed in a regular full-time position required to participate in the State Police Retirement System or in a hazardous duty position with the Kentucky Employees Retirement System or the County Employees Retirement System within one (1) month following the member's initial retirement date, the member's retirement shall be voided, and the member shall repay to the retirement system all benefits received, including any health insurance benefits.
(d) If a member is receiving a retirement allowance from the State Police Retirement System or from hazardous duty retirement coverage with the Kentucky Employees Retirement System or the County Employees Retirement System and is employed in a regular full-time position required to participate in the State Police Retirement System or in a hazardous duty position with the Kentucky Employees Retirement System or the County Employees Retirement System after a one (1) month period following the member's initial retirement date, the member may continue to receive his or her retirement allowance during the period of reemployment subject to the following provisions:
(d) If a member is receiving a retirement allowance from the State Police Retirement System or from hazardous duty retirement coverage with the Kentucky Employees Retirement System or the County Employees Retirement System and is employed in a regular full-time position required to participate Page 138 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN in the State Police Retirement System or in a hazardous duty position with the Kentucky Employees Retirement System or the County Employees Retirement System after a one (1) month period following the member's initial retirement date, the member may continue to receive his or her retirement allowance during the period of reemployment subject to the following provisions:
If a member is reemployed by a participating agency within twelve (12) Page 140 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 months of the member's retirement date, the participating agency shall certify in writing on a form prescribed by the board that no prearranged agreement existed between the employee and agency prior to the employee's retirement for the employee to return to work with the participating agency.
If a member is reemployed by a participating agency within twelve (12) months of the member's retirement date, the participating agency shall certify in writing on a form prescribed by the board that no prearranged agreement existed between the employee and agency prior to the employee's retirement for the employee to return to work with the participating agency.
Except as provided by KRS 70.291 to 70.293, 95.022, and 164.952 and except for any retiree employed as a school resource officer as defined by KRS 158.441, the employer shall pay employer contributions as specified by Section 8 of this Act, KRS 61.565, and KRS 61.702, as applicable, on all creditable compensation earned by the employee during the period of reemployment.
Except as provided by KRS 70.291 to 70.293, 95.022, and 164.952 and except for any retiree employed as a school resource officer as defined Page 139 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN by KRS 158.441, the employer shall pay employer contributions as specified by Section 8 of this Act, KRS 61.565, and KRS 61.702, as applicable, on all creditable compensation earned by the employee during the period of reemployment.
Except as provided by KRS 70.291 to 70.293, 95.022, and 164.952 and Page 141 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 except for any retiree employed as a school resource officer as defined by KRS 158.441, the employer shall be required to reimburse the systems for the cost of the health insurance premium paid by the systems to provide coverage for the retiree, not to exceed the cost of the single premium;
Except as provided by KRS 70.291 to 70.293, 95.022, and 164.952 and except for any retiree employed as a school resource officer as defined by KRS 158.441, the employer shall be required to reimburse the systems for the cost of the health insurance premium paid by the systems to provide coverage for the retiree, not to exceed the cost of the single premium;
The retired member has not purchased or received service credit under any of the provisions of KRS 61.510 to 61.705 or 78.510 to 78.852 for service with the participating employer for which the retired member is performing volunteer services;
The retired member has not purchased or received service credit under any of the provisions of KRS 61.510 to 61.705 or 78.510 to 78.852 for Page 140 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN service with the participating employer for which the retired member is performing volunteer services;
Other than the status of volunteer, the retired member does not become an employee, leased employee, or independent contractor of the employer for which he or she is performing volunteer services for a period of at least twelve (12)[twenty-four (24)] months following the Page 142 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 retired member's most recent retirement date.
Other than the status of volunteer, the retired member does not become an employee, leased employee, or independent contractor of the employer for which he or she is performing volunteer services for a period of at least twelve (12)[twenty-four (24)] months following the retired member's most recent retirement date.
(g) If a member is receiving a retirement allowance from any of the retirement systems administered by the Kentucky Retirement Systems or County Employees Retirement System and enters into a contract or becomes a leased employee of an employer under contract with an employer participating in one (1) of the systems administered by the Kentucky Retirement Systems or County Employees Retirement System:
(g) If a member is receiving a retirement allowance from any of the retirement systems administered by the Kentucky Retirement Systems or County Employees Retirement System and enters into a contract or becomes a leased Page 141 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN employee of an employer under contract with an employer participating in one (1) of the systems administered by the Kentucky Retirement Systems or County Employees Retirement System:
At any time following retirement, if the system determines the employment arrangement does qualify as an independent contractor or leased employee, the member may continue to receive his or her Page 143 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 retirement allowance during the period of the contract;
At any time following retirement, if the system determines the employment arrangement does qualify as an independent contractor or leased employee, the member may continue to receive his or her retirement allowance during the period of the contract;
The initiation of a contract or the initial date of the leased employment of a retired member by a participating agency that occurs after twelve (12) months or more following the retired member's retirement date shall not constitute a prearranged agreement under this subsection;
The initiation of a contract or the initial date of the leased employment of a retired member by a participating agency that occurs after twelve (12) months or more following the retired member's retirement date shall not constitute a Page 142 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN prearranged agreement under this subsection;
and (h) The Kentucky Retirement Systems or County Employees Retirement System shall issue a final determination regarding a certification of the absence of a prearranged agreement or the retired member's qualification as an independent contractor or leased employee as required under this section no later than thirty (30) days after the retired member and participating employer provide Page 144 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 all required forms and additional information required by the Kentucky Retirement Systems or County Employees Retirement System.
and (h) The Kentucky Retirement Systems or County Employees Retirement System shall issue a final determination regarding a certification of the absence of a prearranged agreement or the retired member's qualification as an independent contractor or leased employee as required under this section no later than thirty (30) days after the retired member and participating employer provide all required forms and additional information required by the Kentucky Retirement Systems or County Employees Retirement System.
4.
Page 143 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 4.
and Page 145 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 6.
and 6.
(e) For any change in actuarial assumptions, funding methods, retiree health insurance premiums and subsidies, or any other decisions made by the board that impact system liabilities and actuarially recommended contribution rates for employers and that are not made in conjunction with the actuarial investigation required by paragraph (c) of this subsection, an actuarial analysis shall be completed showing the projected impact of the changes on funding levels, unfunded liabilities, and actuarially recommended contribution rates for employers over a twenty (20) year period.
(e) For any change in actuarial assumptions, funding methods, retiree health insurance premiums and subsidies, or any other decisions made by the board that impact system liabilities and actuarially recommended contribution rates for employers and that are not made in conjunction with the actuarial investigation required by paragraph (c) of this subsection, an actuarial analysis Page 144 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN shall be completed showing the projected impact of the changes on funding levels, unfunded liabilities, and actuarially recommended contribution rates for employers over a twenty (20) year period.
Page 146 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (2) A copy of each five (5) year actuarial investigation, actuarial analysis, and annual valuation required by subsection (1) of this section shall be forwarded electronically to the Legislative Research Commission no later than ten (10) days after receipt by the board, and the Legislative Research Commission shall distribute the information received to the committee staff and co-chairs of any committee that has jurisdiction over the Kentucky Retirement Systems.
(2) A copy of each five (5) year actuarial investigation, actuarial analysis, and annual valuation required by subsection (1) of this section shall be forwarded electronically to the Legislative Research Commission no later than ten (10) days after receipt by the board, and the Legislative Research Commission shall distribute the information received to the committee staff and co-chairs of any committee that has jurisdiction over the Kentucky Retirement Systems.
(1) (a) There is hereby created and established a trust fund to be known as "Kentucky Retirement Systems insurance trust fund[.]" and a trust fund to be known as the "County Employees Retirement System insurance trust fund." (b) All assets received in the Kentucky Retirement Systems insurance trust fund shall be deemed trust funds to be held and applied solely as provided in this section.
(1) (a) There is hereby created and established a trust fund to be known as "Kentucky Retirement Systems insurance trust fund[.]" and a trust fund to be known as the "County Employees Retirement System insurance trust fund." Page 145 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (b) All assets received in the Kentucky Retirement Systems insurance trust fund shall be deemed trust funds to be held and applied solely as provided in this section.
Page 147 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (c) All assets received in the County Employees Retirement System insurance trust fund shall be deemed trust funds to be held and applied solely as provided in this section.
(c) All assets received in the County Employees Retirement System insurance trust fund shall be deemed trust funds to be held and applied solely as provided in this section.
105 and 106, to retired recipients and employees of employers participating in the Kentucky Employees Retirement System as it relates to the Kentucky Retirement Systems insurance trust fund, County Employees Retirement System as it relates to the County Employees Retirement System insurance trust fund, and State Police Retirement System as it relates to the Kentucky Retirement Systems insurance trust fund, and to certain of their dependents or beneficiaries, including but not limited to qualified beneficiaries as described in 42 U.S.C.
105 and 106, to retired recipients and employees of employers participating in the Kentucky Employees Retirement System as it relates to the Kentucky Retirement Systems insurance trust fund, County Employees Retirement System as it relates to the County Employees Retirement System insurance trust fund, and State Police Page 146 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Retirement System as it relates to the Kentucky Retirement Systems insurance trust fund, and to certain of their dependents or beneficiaries, including but not limited to qualified beneficiaries as described in 42 U.S.C.
(3) The Kentucky Retirement Systems insurance trust fund shall be administered by the board of trustees of the Kentucky Retirement Systems and the County Employees Retirement System insurance trust fund shall be administered by the Page 148 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 board of trustees of the County Employees Retirement System and the respective board shall serve as trustees of the fund.
(3) The Kentucky Retirement Systems insurance trust fund shall be administered by the board of trustees of the Kentucky Retirement Systems and the County Employees Retirement System insurance trust fund shall be administered by the board of trustees of the County Employees Retirement System and the respective board shall serve as trustees of the fund.
The board of trustees of Kentucky Retirement Systems and the County Employees Retirement System shall arrange by appropriate contract or on a self-insured basis to provide a group hospital and medical insurance plan for present and future recipients of a retirement allowance from the systems the respective boards administer[Kentucky Employees Retirement System, County Employees Retirement System, and State Police Retirement System], except as provided in subsection (8) of this Page 149 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 section.
The board of trustees of Kentucky Retirement Systems and the County Page 147 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Employees Retirement System shall arrange by appropriate contract or on a self-insured basis to provide a group hospital and medical insurance plan for present and future recipients of a retirement allowance from the systems the respective boards administer[Kentucky Employees Retirement System, County Employees Retirement System, and State Police Retirement System], except as provided in subsection (8) of this section.
Such arrangement or account, in the board's discretion, may reimburse any medical expense permissible under 26 U.S.C.
Such arrangement or Page 148 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN account, in the board's discretion, may reimburse any medical expense permissible under 26 U.S.C.
Page 150 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 sec.
sec.
300bb-1 et seq., regardless of whether such persons are recipients of a retirement allowance.
300bb-1 et seq., regardless of whether such persons are recipients Page 149 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN of a retirement allowance.
(2) (a) Each employer participating in the State Police Retirement System as provided for in KRS 16.505 to 16.652, each employer participating in the County Employees Retirement System as provided in KRS 78.510 to 78.852, and each employer participating in the Kentucky Employees Retirement System as provided for in KRS 61.510 to 61.705 shall contribute to the Page 151 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 [Kentucky Retirement Systems ]insurance trust funds established by Section 27 of this Act[fund] the amount necessary to provide hospital and medical insurance as provided for under this section.
(2) (a) Each employer participating in the State Police Retirement System as provided for in KRS 16.505 to 16.652, each employer participating in the County Employees Retirement System as provided in KRS 78.510 to 78.852, and each employer participating in the Kentucky Employees Retirement System as provided for in KRS 61.510 to 61.705 shall contribute to the [Kentucky Retirement Systems ]insurance trust funds established by Section 27 of this Act[fund] the amount necessary to provide hospital and medical insurance as provided for under this section.
2.
Page 150 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 2.
401(h), within the funds established in KRS 16.510, 61.515, and 78.520, or the [Kentucky Retirement Systems ]insurance trust Page 152 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 funds[fund] established under KRS 61.701.
401(h), within the funds established in KRS 16.510, 61.515, and 78.520, or the [Kentucky Retirement Systems ]insurance trust funds[fund] established under KRS 61.701.
401(h) within the funds established in KRS 16.510, 61.515, and 78.520, or the [Kentucky Retirement Systems ]insurance trust funds[fund] established under KRS 61.701.
401(h) within the funds established in KRS 16.510, 61.515, and 78.520, Page 151 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN or the [Kentucky Retirement Systems ]insurance trust funds[fund] established under KRS 61.701.
If a member establishes a membership date prior to September 1, 2008, pursuant to KRS 61.552(1) or 61.552(20), then this paragraph shall not apply to the member and all contributions previously deducted in accordance with this paragraph shall be refunded Page 153 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 to the member without interest.
If a member establishes a membership date prior to September 1, 2008, pursuant to KRS 61.552(1) or 61.552(20), then this paragraph shall not apply to the member and all contributions previously deducted in accordance with this paragraph shall be refunded to the member without interest.
Wholly or partly from funds contributed by another state-administered retirement system under a reciprocal arrangement, except that any portion of the premium paid from the [Kentucky Retirement Systems] insurance trust funds[fund] or accounts established pursuant to 26 U.S.C.
Wholly or partly from funds contributed by another state-administered Page 152 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN retirement system under a reciprocal arrangement, except that any portion of the premium paid from the [Kentucky Retirement Systems] insurance trust funds[fund] or accounts established pursuant to 26 U.S.C.
401(h) within the funds established in KRS 16.510, 61.515, and 78.520 under a reciprocal agreement shall not exceed the amount that would be payable under this section if all the member's service were Page 154 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 in one (1) of the systems administered by the Kentucky Retirement Systems or County Employees Retirement System;
401(h) within the funds established in KRS 16.510, 61.515, and 78.520 under a reciprocal agreement shall not exceed the amount that would be payable under this section if all the member's service were in one (1) of the systems administered by the Kentucky Retirement Systems or County Employees Retirement System;
401(h) within the funds established in KRS 16.510, 61.515, and 78.520 for all recipients of a retirement allowance from any of the three (3) retirement systems administered by the Kentucky Retirement Systems or the County Employees Retirement System where such recipient is a retired former member of one (1) or more of the three (3) retirement systems administered by the Kentucky Retirement Systems or the County Employees Retirement System (not a beneficiary or dependent child receiving benefits) and had two hundred and forty (240) months or more of service upon retirement.
401(h) within the funds established in KRS 16.510, 61.515, and 78.520 for all recipients of a retirement allowance from any of the three (3) retirement systems administered by the Kentucky Retirement Systems or the Page 153 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN County Employees Retirement System where such recipient is a retired former member of one (1) or more of the three (3) retirement systems administered by the Kentucky Retirement Systems or the County Employees Retirement System (not a beneficiary or dependent child receiving benefits) and had two hundred and forty (240) months or more of service upon retirement.
Should such recipient have less than two Page 155 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 hundred forty (240) months of service but have at least one hundred eighty (180) months of service, seventy-five percent (75%) of such premium shall be paid from the insurance trust fund or accounts established pursuant to 26 U.S.C.
Should such recipient have less than two hundred forty (240) months of service but have at least one hundred eighty (180) months of service, seventy-five percent (75%) of such premium shall be paid from the insurance trust fund or accounts established pursuant to 26 U.S.C.
Notwithstanding the foregoing provisions of this subsection, an employee participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems who becomes disabled as a direct result of an act in line of duty as defined in KRS 16.505 or as a result of a duty-related injury as defined in KRS 61.621, shall have his premium paid in full as if he had two hundred forty (240) months or more of Page 156 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 service.
Page 154 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Notwithstanding the foregoing provisions of this subsection, an employee participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems who becomes disabled as a direct result of an act in line of duty as defined in KRS 16.505 or as a result of a duty-related injury as defined in KRS 61.621, shall have his premium paid in full as if he had two hundred forty (240) months or more of service.
For a member electing insurance coverage through the Kentucky Retirement Systems or County Employees Retirement System, "months of service" shall include, in addition to service as described in paragraph (a) of this subsection, service credit in one (1) of the other state- administered retirement plans.
For a member electing insurance coverage through the Kentucky Retirement Systems or County Employees Retirement System, "months Page 155 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN of service" shall include, in addition to service as described in paragraph (a) of this subsection, service credit in one (1) of the other state- administered retirement plans.
Effective August 1, 1998, the Kentucky Retirement Systems or County Employees Retirement System shall compute the member's combined service, including service credit in another state-administered retirement Page 157 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 plan, and calculate the portion of the member's premium to be paid by the insurance trust fund accounts established pursuant to 26 U.S.C.
Effective August 1, 1998, the Kentucky Retirement Systems or County Employees Retirement System shall compute the member's combined service, including service credit in another state-administered retirement plan, and calculate the portion of the member's premium to be paid by the insurance trust fund accounts established pursuant to 26 U.S.C.
5.
Page 156 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 5.
401(h) within the funds established in KRS 16.510, 61.515, and 78.520 shall not exceed one hundred percent (100%) of the monthly contribution rate toward hospital and medical insurance coverage approved by the board of trustees of the Page 158 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Kentucky Retirement Systems or the board of trustees of the County Employees Retirement System.
401(h) within the funds established in KRS 16.510, 61.515, and 78.520 shall not exceed one hundred percent (100%) of the monthly contribution rate toward hospital and medical insurance coverage approved by the board of trustees of the Kentucky Retirement Systems or the board of trustees of the County Employees Retirement System.
The percentage of the monthly contribution paid for the spouse and each dependent child of a recipient who was in a hazardous position shall be based solely on the member's service with the State Police Retirement System or service in a hazardous position using the formula in subsection (3)(a) of this section, except that for any recipient of a retirement allowance from the County Employees Retirement System who was contributing to the system on Page 159 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 January 1, 1998, for service in a hazardous position, the percentage of the monthly contribution shall be based on the total of hazardous service and any nonhazardous service as a police or firefighter with the same agency, if that agency was participating in the County Employees Retirement System but did not offer hazardous duty coverage for its police and firefighters at the time of initial participation.
The Page 157 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN percentage of the monthly contribution paid for the spouse and each dependent child of a recipient who was in a hazardous position shall be based solely on the member's service with the State Police Retirement System or service in a hazardous position using the formula in subsection (3)(a) of this section, except that for any recipient of a retirement allowance from the County Employees Retirement System who was contributing to the system on January 1, 1998, for service in a hazardous position, the percentage of the monthly contribution shall be based on the total of hazardous service and any nonhazardous service as a police or firefighter with the same agency, if that agency was participating in the County Employees Retirement System but did not offer hazardous duty coverage for its police and firefighters at the time of initial participation.
(5) After July 1, 1998, notwithstanding any other provision to the contrary, a member who holds a judicial office but did not elect to participate in the Judicial Retirement Plan and is participating instead in the Kentucky Employees Retirement System, the County Employees Retirement System, or the State Police Retirement System, as provided in KRS 61.680, and who has at least twenty (20) years of total service, one-half (1/2) of which is in a judicial office, shall receive the same hospital and medical insurance benefits, including paid benefits for spouse and dependents, as Page 160 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 provided to persons retiring under the provisions of KRS 21.427.
(5) After July 1, 1998, notwithstanding any other provision to the contrary, a member Page 158 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN who holds a judicial office but did not elect to participate in the Judicial Retirement Plan and is participating instead in the Kentucky Employees Retirement System, the County Employees Retirement System, or the State Police Retirement System, as provided in KRS 61.680, and who has at least twenty (20) years of total service, one-half (1/2) of which is in a judicial office, shall receive the same hospital and medical insurance benefits, including paid benefits for spouse and dependents, as provided to persons retiring under the provisions of KRS 21.427.
The plan shall not be made available if all recipients are eligible for the same coverage as recipients living in Kentucky.
The plan shall not be made available if all recipients are eligible for the same coverage as Page 159 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN recipients living in Kentucky.
Page 161 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 2.
2.
The minimum service requirement to participate in benefits as provided by paragraph (a) of this subsection shall be waived for a member who is disabled as a direct result of an act in line of duty as defined in KRS 16.505, and the member or his spouse and eligible dependents shall be entitled to the benefits payable under this subsection as though the member had twenty (20) years of service in a hazardous position.
The minimum service requirement to participate in benefits as provided Page 160 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN by paragraph (a) of this subsection shall be waived for a member who is disabled as a direct result of an act in line of duty as defined in KRS 16.505, and the member or his spouse and eligible dependents shall be entitled to the benefits payable under this subsection as though the member had twenty (20) years of service in a hazardous position.
The minimum service required to participate in benefits as provided by Page 162 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 paragraph (a) of this subsection shall be waived for a member who is disabled by a duty-related injury as defined in KRS 61.621, and the member shall be entitled to the benefits payable under this subsection as though the member has twenty (20) years of service in a nonhazardous position.
The minimum service required to participate in benefits as provided by paragraph (a) of this subsection shall be waived for a member who is disabled by a duty-related injury as defined in KRS 61.621, and the member shall be entitled to the benefits payable under this subsection as though the member has twenty (20) years of service in a nonhazardous position.
The General Assembly reserves the right to suspend or reduce the benefits conferred in this subsection if in its judgment the welfare of the Commonwealth so demands.
The Page 161 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN General Assembly reserves the right to suspend or reduce the benefits conferred in this subsection if in its judgment the welfare of the Commonwealth so demands.
(f) An employee whose membership date is on or after September 1, 2008, who retires and is reemployed in a regular full-time position required to participate in one (1) of the systems administered by Kentucky Retirement Systems shall Page 163 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 not be eligible for health insurance coverage or benefits provided by this section and shall take coverage with his or her employing agency during the period of reemployment in a regular full-time position.
(f) An employee whose membership date is on or after September 1, 2008, who retires and is reemployed in a regular full-time position required to participate in one (1) of the systems administered by Kentucky Retirement Systems shall not be eligible for health insurance coverage or benefits provided by this section and shall take coverage with his or her employing agency during the period of reemployment in a regular full-time position.
(3) The duties of the council shall include the following:
Page 162 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (3) The duties of the council shall include the following:
Page 164 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 b.
b.
(b) Advise the secretary of the Personnel Cabinet on requests from agencies to establish or abolish a separate salary schedule, or schedules, reflective of the marketplace need to recruit and hire classified employees in technical or professional fields when the classified service salary schedule is inadequate.
(b) Advise the secretary of the Personnel Cabinet on requests from agencies to Page 163 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN establish or abolish a separate salary schedule, or schedules, reflective of the marketplace need to recruit and hire classified employees in technical or professional fields when the classified service salary schedule is inadequate.
A positive recommendation of such requests shall not be granted unless significant credible evidence exists of a job market shortage and an inadequacy of the classified or unclassified salary schedules to recruit and Page 165 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 retain competent, qualified applicants for such positions;
A positive recommendation of such requests shall not be granted unless significant credible evidence exists of a job market shortage and an inadequacy of the classified or unclassified salary schedules to recruit and retain competent, qualified applicants for such positions;
(1) Except as otherwise provided in subsection (2) of this section, and excepting officers elected by popular vote, employees of the General Assembly, including employees of the Legislative Research Commission, members of boards and commissions, those officers and employees of Kentucky Educational Television exempt from classified service as provided in KRS 18A.115, presidents and employees of the state universities and the state colleges, officers employed by the Department of Kentucky State Police under KRS Chapter 16, and persons employed by the commissioner of parks on a temporary basis under KRS 148.026, the Personnel Cabinet shall prepare schedules of compensation, payable out of the State Treasury, with a minimum salary rate, and other salary rates as are deemed necessary or advisable, for the office or position of employment of every state officer and employee, including specifically the offices and positions of employment in every constitutionaladministrative department, statutory administrative department, independent agency, board, commission, or other unit of state government.
(1) Except as otherwise provided in subsection (2) of this section, and excepting officers elected by popular vote, employees of the General Assembly, including employees of the Legislative Research Commission, members of boards and commissions, those officers and employees of Kentucky Educational Television exempt from classified service as provided in KRS 18A.115, presidents and employees of the state universities and the state colleges, officers employed by the Department of Kentucky State Police under KRS Chapter 16, and persons employed by the commissioner of parks on a temporary basis under KRS 148.026, the Personnel Cabinet shall prepare schedules of compensation, payable out of the State Page 164 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Treasury, with a minimum salary rate, and other salary rates as are deemed necessary or advisable, for the office or position of employment of every state officer and employee, including specifically the offices and positions of employment in every constitutionaladministrative department, statutory administrative department, independent agency, board, commission, or other unit of state government.
The language of any statute empowering a board, commission, Page 166 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 authority, or other administrative body for which the Personnel Cabinet provides personnel and payroll services, except for any board governing any of the Kentucky Retirement Systems, the County Employees Retirement System, the Kentucky Public Pensions Authority, the Kentucky Higher Education Assistance Authority, the Kentucky Authority for Educational Television, or the Council on Postsecondary Education, to establish, set, or approve the salaries of its administrative head and other employees to the contrary notwithstanding, the establishment or setting of salaries for administrative heads or other employees shall be subject to the approval of the secretary of the Personnel Cabinet.
The language of any statute empowering a board, commission, authority, or other administrative body for which the Personnel Cabinet provides personnel and payroll services, except for any board governing any of the Kentucky Retirement Systems, the County Employees Retirement System, the Kentucky Public Pensions Authority, the Kentucky Higher Education Assistance Authority, the Kentucky Authority for Educational Television, or the Council on Postsecondary Education, to establish, set, or approve the salaries of its administrative head and other employees to the contrary notwithstanding, the establishment or setting of salaries for administrative heads or other employees shall be subject to the approval of the secretary of the Personnel Cabinet.
Such compensation shall be based upon studies of the duties and responsibilities and classification of the positions by the Governor and upon a comparison with compensation being paid for similar or comparable services elsewhere, provided, however, such compensation shall not exceed the total taxable compensation of the Governor derived from state sources, the provisions of KRS 64.660 to the contrary notwithstanding.
Such compensation Page 165 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN shall be based upon studies of the duties and responsibilities and classification of the positions by the Governor and upon a comparison with compensation being paid for similar or comparable services elsewhere, provided, however, such compensation shall not exceed the total taxable compensation of the Governor derived from state sources, the provisions of KRS 64.660 to the contrary notwithstanding.
For the purposes of this section, the total taxable compensation of Page 167 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the Governor from state sources shall include the amount provided for compensation to the Governor under KRS 64.480 and any benefits or discretionary spending accounts that are imputed as taxable income for federal tax purposes.
For the purposes of this section, the total taxable compensation of the Governor from state sources shall include the amount provided for compensation to the Governor under KRS 64.480 and any benefits or discretionary spending accounts that are imputed as taxable income for federal tax purposes.
(2) Notwithstanding any provisions of KRS 16.505 to 16.652, 18A.225 to 18A.2287, 61.510 to 61.705, or 78.510 to 78.852 to the contrary:
Page 166 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (2) Notwithstanding any provisions of KRS 16.505 to 16.652, 18A.225 to 18A.2287, 61.510 to 61.705, or 78.510 to 78.852 to the contrary:
Page 168 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) Individuals employed under KRS 70.291 to 70.293 shall not be eligible to receive health insurance coverage through the county police department, the sheriff's office, or the fiscal court of the county police department or sheriff's office;
(b) Individuals employed under KRS 70.291 to 70.293 shall not be eligible to receive health insurance coverage through the county police department, the sheriff's office, or the fiscal court of the county police department or sheriff's office;
(2) "Board" means the board of trustees of the system as provided in Section 3 of this Act[KRS 78.780];
Page 167 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (2) "Board" means the board of trustees of the system as provided in Section 3 of this Act[KRS 78.780];
(3) "County" means any county, or nonprofit organization created and governed by a county, counties, or elected county officers, sheriff and his employees, county clerk and his employees, circuit clerk and his deputies, former circuit clerks or former circuit clerk deputies, or political subdivision or instrumentality, including school Page 169 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 boards, cities, charter county governments[government],[ or] urban-county governments, consolidated local governments, or unified local governments[government] participating in the system by order appropriate to its governmental structure, as provided in KRS 78.530, and if the board is willing to accept the agency, organization, or corporation, the board being hereby granted the authority to determine the eligibility of the agency to participate;
(3) "County" means any county, or nonprofit organization created and governed by a county, counties, or elected county officers, sheriff and his employees, county clerk and his employees, circuit clerk and his deputies, former circuit clerks or former circuit clerk deputies, or political subdivision or instrumentality, including school boards, cities, charter county governments[government],[ or] urban-county governments, consolidated local governments, or unified local governments[government] participating in the system by order appropriate to its governmental structure, as provided in KRS 78.530, and if the board is willing to accept the agency, organization, or corporation, the board being hereby granted the authority to determine the eligibility of the agency to participate;
(8) "Member" means any employee who is included in the membership of the system or any former employee whose membership has not ceased[not been terminated] under Section 34 of this Act[KRS 61.535];
(8) "Member" means any employee who is included in the membership of the system or Page 168 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN any former employee whose membership has not ceased[not been terminated] under Section 34 of this Act[KRS 61.535];
(10) "Current service" means the number of years and months of employment as an employee, on and after July 1, 1958, for which creditable compensation is paid and Page 170 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 employee contributions deducted, except as otherwise provided;
(10) "Current service" means the number of years and months of employment as an employee, on and after July 1, 1958, for which creditable compensation is paid and employee contributions deducted, except as otherwise provided;
(a) Except as limited[provided] by paragraph [(b) or ](c) of this subsection, means all salary, wages, and fees, including payments for compensatory time, paid to the employee as a result of services performed for the employer or for time during which the member is on paid leave, which are includable on the member's federal form W-2 wage and tax statement under the heading "wages, tips, other compensation", including employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4).
(a) Except as limited[provided] by paragraph [(b) or ](c) of this subsection, means all salary, wages, and fees, including payments for compensatory time, paid to the employee as a result of services performed for the employer or for Page 169 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN time during which the member is on paid leave, which are includable on the member's federal form W-2 wage and tax statement under the heading "wages, tips, other compensation", including employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4).
The creditable compensation of fee officers who receive salary, fees, maintenance, or other perquisites as a result of their official duties is the gross amount received decreased by the Page 171 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 cost of salary paid deputies and clerks and the cost of office supplies and other official expenses;
The creditable compensation of fee officers who receive salary, fees, maintenance, or other perquisites as a result of their official duties is the gross amount received decreased by the cost of salary paid deputies and clerks and the cost of office supplies and other official expenses;
This subparagraph shall also include lump-sum payments for reinstated wages pursuant to KRS 61.569, which shall be credited to the period during which the wages were earned or should have been paid by the employer;
This subparagraph shall also include lump-sum payments for reinstated wages pursuant to KRS 61.569, which shall be credited to the period during which the wages were Page 170 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN earned or should have been paid by the employer;
Elective amounts for qualified transportation fringes paid or made available on or after January 1, 2001, for calendar years on or after Page 172 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 January 1, 2001, that are not includable in the gross income of the employee by reason of 26 U.S.C.
Elective amounts for qualified transportation fringes paid or made available on or after January 1, 2001, for calendar years on or after January 1, 2001, that are not includable in the gross income of the employee by reason of 26 U.S.C.
(a) For a member who begins participating before September 1, 2008, who is employed in a nonhazardous position, the creditable compensation of the member during the five (5) fiscal years he was paid at the highest average monthly rate divided by the number of months of service credit during that five (5) year period multiplied by twelve (12).
(a) For a member who begins participating before September 1, 2008, who is Page 171 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN employed in a nonhazardous position, the creditable compensation of the member during the five (5) fiscal years he was paid at the highest average monthly rate divided by the number of months of service credit during that five (5) year period multiplied by twelve (12).
Page 173 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 If the number of months of service credit during the five (5) year period is less than forty-eight (48)[ for members retiring prior to January 1, 2019], one (1) or more additional fiscal years shall be used[.
If the number of months of service credit during the five (5) year period is less than forty-eight (48)[ for members retiring prior to January 1, 2019], one (1) or more additional fiscal years shall be used[.
(c) For a member who begins participating before September 1, 2008, who is employed in a hazardous position, as provided in KRS 61.592[, and who retired prior to January 1, 2019], the creditable compensation of the member during the three (3) fiscal years he was paid at the highest average monthly rate divided by the number of months of service credit during that three (3) year period multiplied by twelve (12).
Page 172 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (c) For a member who begins participating before September 1, 2008, who is employed in a hazardous position, as provided in KRS 61.592[, and who retired prior to January 1, 2019], the creditable compensation of the member during the three (3) fiscal years he was paid at the highest average monthly rate divided by the number of months of service credit during that three (3) year period multiplied by twelve (12).
The three (3) years may be fractional Page 174 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 and need not be consecutive.
The three (3) years may be fractional and need not be consecutive.
Each fiscal year used to determine final compensation must contain twelve (12) months of service credit.
Each fiscal year used to determine Page 173 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN final compensation must contain twelve (12) months of service credit.
Page 175 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (15) "Final rate of pay" means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, and shall include employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4).
(15) "Final rate of pay" means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, and shall include employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4).
(19) "Fiscal year" of the system means the twelve (12) months from July 1 through the following June 30, which shall also be the plan year.
Page 174 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (19) "Fiscal year" of the system means the twelve (12) months from July 1 through the following June 30, which shall also be the plan year.
(20) "Agency reporting official" means the person designated by the participating employer[agency] who shall be responsible for forwarding all employer and Page 176 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 employee contributions and a record of the contributions to the system and for performing other administrative duties pursuant to the provisions of KRS 78.510 to 78.852;
(20) "Agency reporting official" means the person designated by the participating employer[agency] who shall be responsible for forwarding all employer and employee contributions and a record of the contributions to the system and for performing other administrative duties pursuant to the provisions of KRS 78.510 to 78.852;
(d) Probationary positions which are positions of employment with a participating employer that do not exceed twelve (12) months and that are used uniformly by the participating agency on new employees who would otherwise be eligible for participation in the system.
(d) Probationary positions which are positions of employment with a participating employer that do not exceed twelve (12) months and that are used uniformly Page 175 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN by the participating agency on new employees who would otherwise be eligible for participation in the system.
or (e) Part-time positions that are positions that may be permanent in duration, but Page 177 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 that require less than a calendar or fiscal year average of one hundred (100) hours of work per month, determined by using the number of months actually worked within a calendar or fiscal year, in the performance of duty, except in case of noncertified employees of school boards, the school term average shall be eighty (80) hours of work per month, determined by using the number of months actually worked in a calendar or school year, in the performance of duty;
or (e) Part-time positions that are positions that may be permanent in duration, but that require less than a calendar or fiscal year average of one hundred (100) hours of work per month, determined by using the number of months actually worked within a calendar or fiscal year, in the performance of duty, except in case of noncertified employees of school boards, the school term average shall be eighty (80) hours of work per month, determined by using the number of months actually worked in a calendar or school year, in the performance of duty;
(26) "Recipient" means the retired member, the person or persons designated as beneficiary by the member and drawing a retirement allowance as a result of the member's death, or a dependent child drawing a retirement allowance.
(26) "Recipient" means the retired member, the person or persons designated as beneficiary by the member and drawing a retirement allowance as a result of the Page 176 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN member's death, or a dependent child drawing a retirement allowance.
Page 178 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (29) "Retirement office" means the Kentucky Public Pensions Authority[Kentucky Retirement Systems] office building in Frankfort;
(29) "Retirement office" means the Kentucky Public Pensions Authority[Kentucky Retirement Systems] office building in Frankfort;
and (b) Relates to the provision of child support, alimony payments, or marital property rights to an alternate payee;
and Page 177 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (b) Relates to the provision of child support, alimony payments, or marital property rights to an alternate payee;
(37) "Accumulated employer credit" means the employer pay credit deposited to the Page 179 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 member's account and interest credited on such amounts as provided by[ KRS 16.583 and 61.597];
(37) "Accumulated employer credit" means the employer pay credit deposited to the member's account and interest credited on such amounts as provided by[ KRS 16.583 and 61.597];
and (b) If a retired member, does not become an employee, leased employee, or independent contractor of the employer for which he or she is performing volunteer services for a period of at least twelve (12)[twenty-four (24)] months following the retired member's most recent retirement date;
and (b) If a retired member, does not become an employee, leased employee, or Page 178 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN independent contractor of the employer for which he or she is performing volunteer services for a period of at least twelve (12)[twenty-four (24)] months following the retired member's most recent retirement date;
Compensation earned for services as a volunteer from more than one (1) participating employer during a month shall be Page 180 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 aggregated to determine whether the compensation exceeds the five hundred dollars ($500) per month maximum provided by this subsection;
Compensation earned for services as a volunteer from more than one (1) participating employer during a month shall be aggregated to determine whether the compensation exceeds the five hundred dollars ($500) per month maximum provided by this subsection;
(45)[(43)] "Monthly average pay" means the higher of the member's monthly final rate of pay or the average monthly creditable compensation earned by the deceased member during his or her last twelve (12) months of employment;
(45)[(43)] "Monthly average pay" means the higher of the member's monthly final rate of pay or the average monthly creditable compensation earned by the deceased Page 179 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN member during his or her last twelve (12) months of employment;
Page 181 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (1) (a) Each county and school board, as defined in KRS 78.510, will participate in the system by appropriate order authorizing such participation which has been entered and duly recorded in the records of the governing body of the county or school board.
(1) (a) Each county and school board, as defined in KRS 78.510, will participate in the system by appropriate order authorizing such participation which has been entered and duly recorded in the records of the governing body of the county or school board.
Agencies entering the system on or after April 9, 2002, which were established by a merger or an interlocal agreement to provide public services shall be excluded from this requirement if all agencies entering into the merger or interlocal agreement had an initial participation date with the system prior to April 9, 2002.
Agencies entering the system on or after April 9, 2002, which were established by a merger or an interlocal agreement to provide public services shall be excluded from this requirement if all agencies entering into the merger or interlocal agreement had an initial participation date Page 180 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN with the system prior to April 9, 2002.
(3) (a) Concurrent with the adoption of the appropriate resolution to participate in the system, a county may elect the alternate participation plan which will require the county to purchase on behalf of each employee electing coverage, at the Page 182 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 time the county elected to participate in the system as provided under subsection (1)(b) and (c) of Section 35 of this Act[KRS 78.540(2)], current service credit for employment in regular full-time positions between July 1, 1958, and the participation date of the county.
(3) (a) Concurrent with the adoption of the appropriate resolution to participate in the system, a county may elect the alternate participation plan which will require the county to purchase on behalf of each employee electing coverage, at the time the county elected to participate in the system as provided under subsection (1)(b) and (c) of Section 35 of this Act[KRS 78.540(2)], current service credit for employment in regular full-time positions between July 1, 1958, and the participation date of the county.
The maximum period allowed in a payment schedule shall be thirty (30) years, with interest at the rate actuarially assumed by the board.
The Page 181 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN maximum period allowed in a payment schedule shall be thirty (30) years, with interest at the rate actuarially assumed by the board.
A shorter period is desirable and the board may approve any payment schedule provided it is not longer than a thirty (30) year period, except that cities which participate in the system pursuant to subsection (6) of this section, KRS 79.080, 90.400, 90.410, 95.520, 95.621, 95.761, 95.768, 95.852, or 96.180 may, at their option, extend Page 183 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 the payment schedule to a maximum of thirty (30) years, may choose to make level payments at the interest rate actuarially assumed by the board over the life of the payment schedule chosen, and may retain employer contributions and the earnings thereon attributable to employees electing coverage;
A shorter period is desirable and the board may approve any payment schedule provided it is not longer than a thirty (30) year period, except that cities which participate in the system pursuant to subsection (6) of this section, KRS 79.080, 90.400, 90.410, 95.520, 95.621, 95.761, 95.768, 95.852, or 96.180 may, at their option, extend the payment schedule to a maximum of thirty (30) years, may choose to make level payments at the interest rate actuarially assumed by the board over the life of the payment schedule chosen, and may retain employer contributions and the earnings thereon attributable to employees electing coverage;
The city may increase the tax to pay current service costs which exceed the local pension system costs to which the tax had been devoted, but the city shall not collect from the tax more revenues than are necessary to pay current service costs incurred after the date of participation.
The city may increase the tax to pay current service costs which exceed the local pension system costs to which the tax had been devoted, but the city shall not collect from the tax more revenues than are necessary to pay current service costs incurred after Page 182 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the date of participation.
(d) The county may at a later date purchase current service credit from July 1, Page 184 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 1958, to the participation date of the county by alternate participation plan for those employees who rejected membership in the system at the time the county first participated.
(d) The county may at a later date purchase current service credit from July 1, 1958, to the participation date of the county by alternate participation plan for those employees who rejected membership in the system at the time the county first participated.
The employee shall pay the employee contributions on his creditable compensation from the participation date of the county to the date he elects membership plus interest at the current actuarial rate compounded annually on the employee and employer contributions.
The employee shall pay the employee contributions on his creditable compensation from the Page 183 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN participation date of the county to the date he elects membership plus interest at the current actuarial rate compounded annually on the employee and employer contributions.
and (f) A county which participated in the system but did not elect the alternate Page 185 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 participation plan may at a later date elect the alternate participation plan.
and (f) A county which participated in the system but did not elect the alternate participation plan may at a later date elect the alternate participation plan.
(g) Notwithstanding any other provision of the Kentucky Revised Statutes to the contrary, this subsection shall not apply to members who begin participating in the system on or after January 1, 2014, and no county that elects to participate in the system on or after January 1, 2014, shall be eligible to participate under the alternate participation plan.
(g) Notwithstanding any other provision of the Kentucky Revised Statutes to the Page 184 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN contrary, this subsection shall not apply to members who begin participating in the system on or after January 1, 2014, and no county that elects to participate in the system on or after January 1, 2014, shall be eligible to participate under the alternate participation plan.
Page 186 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (5) The order of the governing body of a county, as provided for in subsection (1) of this section, may exclude from participation in the system hospitals and any other semi-independent agency.
(5) The order of the governing body of a county, as provided for in subsection (1) of this section, may exclude from participation in the system hospitals and any other semi-independent agency.
Each city participating in the County Employees Retirement System pursuant to this subsection shall execute the appropriate order authorizing such participation, shall select the alternate participation plan as described in subsection (3) of this section, and shall pay for the actuarial services necessary to determine the additional costs of alternate participation.
Each city participating in the County Employees Retirement System pursuant to this subsection shall execute the appropriate order authorizing such participation, shall select the alternate participation plan as described in subsection (3) of Page 185 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN this section, and shall pay for the actuarial services necessary to determine the additional costs of alternate participation.
Page 187 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) Notwithstanding any statute to the contrary, after April 9, 2002, the system[systems] shall deny the request for participation of any agency which does not have an irrevocable contract with the state Personnel Cabinet for health insurance coverage under KRS 18A.225 to 18A.229 for its active employees, except that agencies entering the system on or after April 9, 2002, which were established by a merger or an interlocal agreement to provide public services shall be excluded from this requirement if all agencies entering into the merger or interlocal agreement had an initial participation date with the system prior to April 9, 2002.
(b) Notwithstanding any statute to the contrary, after April 9, 2002, the system[systems] shall deny the request for participation of any agency which does not have an irrevocable contract with the state Personnel Cabinet for health insurance coverage under KRS 18A.225 to 18A.229 for its active employees, except that agencies entering the system on or after April 9, 2002, which were established by a merger or an interlocal agreement to provide public services shall be excluded from this requirement if all agencies entering into the merger or interlocal agreement had an initial participation date with the system prior to April 9, 2002.
Section 34.
Page 186 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Section 34.
Page 188 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (c) "Employer's effective cessation date" means the last day of the system's plan year in the year in which the employer has elected to cease participation in the system, provided the employer has met the requirements of this section and has given the system sufficient notice as provided by administrative regulations promulgated by the system;
(c) "Employer's effective cessation date" means the last day of the system's plan year in the year in which the employer has elected to cease participation in the system, provided the employer has met the requirements of this section and has given the system sufficient notice as provided by administrative regulations promulgated by the system;
The employer shall adopt a resolution requesting to cease participation in the system and shall submit the resolution to the board for its approval;
The employer shall adopt a resolution requesting to cease participation in the system and shall submit the resolution to the Page 187 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN board for its approval;
The employer shall pay for all administrative costs of an actuarial study to be completed by the County Employees Retirement System consulting actuary and for any other administrative costs for Page 189 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 discontinuing participation in the system as determined by the board and as provided by this section;
The employer shall pay for all administrative costs of an actuarial study to be completed by the County Employees Retirement System consulting actuary and for any other administrative costs for discontinuing participation in the system as determined by the board and as provided by this section;
The full actuarial cost shall not include any employee who seeks to transfer his or her account balance to the alternative retirement program as provided by subparagraph 5.
The full actuarial cost shall not include any employee Page 188 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN who seeks to transfer his or her account balance to the alternative retirement program as provided by subparagraph 5.
(b) If the board determines an employer must involuntarily cease participation Page 190 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 in the system as provided by subsection (2)(b) of this section:
(b) If the board determines an employer must involuntarily cease participation in the system as provided by subsection (2)(b) of this section:
(5) If an employer has ceased participation in the system as provided by this section:
Page 189 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (5) If an employer has ceased participation in the system as provided by this section:
and (b) Employees of the employer ceasing participation shall accrue benefits Page 191 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 through the employer's effective cessation date but shall not accrue any additional benefits in the County Employees Retirement System, including earning years of service credit through the ceased employer, after the employer's effective cessation date for as long as they remain employed by the employer.
and (b) Employees of the employer ceasing participation shall accrue benefits through the employer's effective cessation date but shall not accrue any additional benefits in the County Employees Retirement System, including earning years of service credit through the ceased employer, after the employer's effective cessation date for as long as they remain employed by the employer.
(6) For purposes of this section, the full actuarial cost shall be determined by the County Employees Retirement System consulting actuary separately for the pension fund and the insurance fund using the assumptions and methodology established by the system specifically for determining the full actuarial cost of ceasing participation as of the employer's effective cessation date.
(6) For purposes of this section, the full actuarial cost shall be determined by the County Employees Retirement System consulting actuary separately for the pension fund and the insurance fund using the assumptions and methodology established by the system specifically for determining the full actuarial cost of Page 190 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN ceasing participation as of the employer's effective cessation date.
For purposes of determining the full actuarial cost, the assumed rate of return used to calculate the cost shall be the lesser of the assumed rate of return utilized in the system's most recent actuarial valuation or the yield on a thirty (30) year United States treasury bond as of the employer's effective cessation date, but shall in no case be lower than the assumed rate of return utilized in the system's most recent Page 192 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 actuarial valuation minus three and one-half percent (3.5%).
For purposes of determining the full actuarial cost, the assumed rate of return used to calculate the cost shall be the lesser of the assumed rate of return utilized in the system's most recent actuarial valuation or the yield on a thirty (30) year United States treasury bond as of the employer's effective cessation date, but shall in no case be lower than the assumed rate of return utilized in the system's most recent actuarial valuation minus three and one-half percent (3.5%).
(1) (a) All persons who become employees of a participating county after the date the county first participates in the system, except that:
Page 191 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (1) (a) All persons who become employees of a participating county after the date the county first participates in the system, except that:
City managers or other appointed local government executives who participate in a retirement system, other than Social Security, may Page 193 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 decline prior to their participation in the system;
City managers or other appointed local government executives who participate in a retirement system, other than Social Security, may decline prior to their participation in the system;
(2)[(5)] The provisions of subsection[subsections] (1)(a) to (1)(c) [and (2) ]of this section notwithstanding, cities which participate in the CERS and close existing local pension systems to new, or all members pursuant to the provisions of KRS 78.530, 95.520, 95.621, or 95.852 shall not be required to provide membership in the County Employees Retirement System to employees in any employee category not covered by a city pension system at the date of participation.
(2)[(5)] The provisions of subsection[subsections] (1)(a) to (1)(c) [and (2) ]of this Page 192 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN section notwithstanding, cities which participate in the CERS and close existing local pension systems to new, or all members pursuant to the provisions of KRS 78.530, 95.520, 95.621, or 95.852 shall not be required to provide membership in the County Employees Retirement System to employees in any employee category not covered by a city pension system at the date of participation.
Page 194 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (a) Persons who are not eligible to participate in the system as provided by Section 34 of this Act;
(a) Persons who are not eligible to participate in the system as provided by Section 34 of this Act;
(b) For purposes of KRS 78.510 to 78.852, termination of employment with prejudice shall mean termination as the result of conviction of the member in a court of competent jurisdiction of embezzlement or larceny of public funds or property or malfeasance in office, or the forcing of a member to make restitution for any funds or property criminally taken by the member at the time of termination of employment.
(b) For purposes of KRS 78.510 to 78.852, termination of employment with prejudice shall mean termination as the result of conviction of the member in a court of competent jurisdiction of embezzlement or larceny of public Page 193 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN funds or property or malfeasance in office, or the forcing of a member to make restitution for any funds or property criminally taken by the member at the time of termination of employment.
(c) Notwithstanding any provision of law to the contrary, an employee hired on or after August 1, 2000, who participates in the system and who is convicted, in any state or federal court of competent jurisdiction, of a felony Page 195 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 related to his employment shall forfeit rights and benefits earned under the system, except for the return of his accumulated contributions and interest credited on those contributions.
(c) Notwithstanding any provision of law to the contrary, an employee hired on or after August 1, 2000, who participates in the system and who is convicted, in any state or federal court of competent jurisdiction, of a felony related to his employment shall forfeit rights and benefits earned under the system, except for the return of his accumulated contributions and interest credited on those contributions.
(3) The deductions provided for in subsection (2) of this section shall be made notwithstanding that the minimum compensation provided by law for any employee shall be reduced thereby.
Page 194 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (3) The deductions provided for in subsection (2) of this section shall be made notwithstanding that the minimum compensation provided by law for any employee shall be reduced thereby.
and payment of salary or compensation less the deductions shall be a full and complete discharge of all claims for services rendered by the person during the period covered by the Page 196 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 payment, except as to any benefits provided by KRS 78.510 to 78.852.
and payment of salary or compensation less the deductions shall be a full and complete discharge of all claims for services rendered by the person during the period covered by the payment, except as to any benefits provided by KRS 78.510 to 78.852.
(1) Employee contributions shall be deducted each payroll period from the creditable compensation of each employee of an agency participating in the system while he is classified as regular full-time as defined in KRS 78.510 unless the person did not elect to become a member as provided by KRS 78.540[(2)] or is not eligible to participate in the system as provided by Section 34 of this Act[KRS 61.522].
(1) Employee contributions shall be deducted each payroll period from the creditable Page 195 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN compensation of each employee of an agency participating in the system while he is classified as regular full-time as defined in KRS 78.510 unless the person did not elect to become a member as provided by KRS 78.540[(2)] or is not eligible to participate in the system as provided by Section 34 of this Act[KRS 61.522].
Page 197 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (a) For employees who are not employed by a school board, service credit shall be allowed for each month contributions are deducted or picked up during a fiscal or calendar year, if the employee receives creditable compensation for an average of one hundred (100) hours or more of work per month based on the actual hours worked in a calendar or fiscal year.
(a) For employees who are not employed by a school board, service credit shall be allowed for each month contributions are deducted or picked up during a fiscal or calendar year, if the employee receives creditable compensation for an average of one hundred (100) hours or more of work per month based on the actual hours worked in a calendar or fiscal year.
The retirement system shall impose a penalty on the employer of one thousand dollars ($1,000) if the information is not submitted by the date required with an additional two hundred and fifty dollars ($250) for each additional thirty (30) day period the information is reported late.
The retirement system shall impose a penalty on the employer of one thousand dollars ($1,000) if the information is not submitted by the date Page 196 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN required with an additional two hundred and fifty dollars ($250) for each additional thirty (30) day period the information is reported late.
If the employee works fewer than the number of contracted calendar days, the employee shall receive service credit determined by dividing the actual number of contracted calendar days worked by twenty (20) and rounded to the nearest whole month, provided that the number of Page 198 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 hours worked during the period averages eighty (80) or more hours.
If the employee works fewer than the number of contracted calendar days, the employee shall receive service credit determined by dividing the actual number of contracted calendar days worked by twenty (20) and rounded to the nearest whole month, provided that the number of hours worked during the period averages eighty (80) or more hours.
Employees who complete their employment contract prior to the close of a fiscal year and elect to retire prior to the close of a fiscal year shall have their service credit reduced by eight percent (8%) for each calendar month that the retirement becomes effective prior to July 1.
Employees who complete their employment contract prior to the close of a fiscal year and elect to retire prior to the close of a fiscal year shall have their service credit reduced by eight percent (8%) for each calendar month that the retirement Page 197 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN becomes effective prior to July 1.
Service credit may not exceed the ratio between the Page 199 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 school or fiscal year and the number of months or fraction of a month the employee is employed during that year.
Service credit may not exceed the ratio between the school or fiscal year and the number of months or fraction of a month the employee is employed during that year.
If a tuition agreement is broken by the member, the member and employer contributions paid or picked up during the period of educational leave shall be refunded.
If a tuition agreement is Page 198 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN broken by the member, the member and employer contributions paid or picked up during the period of educational leave shall be refunded.
Page 200 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (1) The employer shall prepare the reporting records necessary for the system to administer the provisions of KRS 78.510 to 78.852 and, from time to time, shall furnish the information the system may require in the discharge of its duties.
(1) The employer shall prepare the reporting records necessary for the system to administer the provisions of KRS 78.510 to 78.852 and, from time to time, shall furnish the information the system may require in the discharge of its duties.
(b) Delinquent contributions, with interest at the rate adopted by the board compounded annually, or penalties may be recovered by action in the Franklin Circuit Court against the county liable or may, at the request of the board, be deducted from any other moneys payable to the county by any department or agency of the state.
(b) Delinquent contributions, with interest at the rate adopted by the board compounded annually, or penalties may be recovered by action in the Franklin Page 199 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Circuit Court against the county liable or may, at the request of the board, be deducted from any other moneys payable to the county by any department or agency of the state.
(4)[(3)] If an agency is delinquent in the payment of contributions due in accordance with any of the provisions of KRS 78.510 to 78.852, refunds and retirement allowance payments to members of this agency may be suspended until the Page 201 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 delinquent contributions, with interest at the rate adopted by the board compounded annually, or penalties have been paid to the system.
(4)[(3)] If an agency is delinquent in the payment of contributions due in accordance with any of the provisions of KRS 78.510 to 78.852, refunds and retirement allowance payments to members of this agency may be suspended until the delinquent contributions, with interest at the rate adopted by the board compounded annually, or penalties have been paid to the system.
(2) (a) For members who begin participating in the County Employees Retirement System on or after January 1, 2014, the General Assembly reserves the right to amend, suspend, or reduce the benefits and rights provided under KRS 78.510 to 78.852 if, in its judgment, the welfare of the Commonwealth so demands, except that the amount of benefits the member has accrued at the time of amendment, suspension, or reduction shall not be affected.
Page 200 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (2) (a) For members who begin participating in the County Employees Retirement System on or after January 1, 2014, the General Assembly reserves the right to amend, suspend, or reduce the benefits and rights provided under KRS 78.510 to 78.852 if, in its judgment, the welfare of the Commonwealth so demands, except that the amount of benefits the member has accrued at the time of amendment, suspension, or reduction shall not be affected.
Page 202 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (b) For purposes of this subsection, the amount of benefits the member has accrued at the time of amendment, suspension, or reduction shall be limited to the accumulated account balance the member has accrued at the time of amendment, suspension, or reduction.
(b) For purposes of this subsection, the amount of benefits the member has accrued at the time of amendment, suspension, or reduction shall be limited to the accumulated account balance the member has accrued at the time of amendment, suspension, or reduction.
or (b) Suspend benefit payments and refunds or to seek legal action as provided by Section 38 of this Act for any employer failing to fund the requirements of KRS 78.510 to 78.852.
or (b) Suspend benefit payments and refunds or to seek legal action as provided by Page 201 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Section 38 of this Act for any employer failing to fund the requirements of KRS 78.510 to 78.852.
Page 203 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (1) [Cessation of membership, conditions, as provided for by KRS 61.535;
(1) [Cessation of membership, conditions, as provided for by KRS 61.535;
(15) Recontribution and delayed contribution payments, purchase of service credit, interest, and installment payments, as provided for by Section 43 of this Act;
Page 202 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (15) Recontribution and delayed contribution payments, purchase of service credit, interest, and installment payments, as provided for by Section 43 of this Act;
(18)[(19)] Death before retirement, beneficiary's options, as provided for by KRS Page 204 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 61.640;
(18)[(19)] Death before retirement, beneficiary's options, as provided for by KRS 61.640;
(30)[(36)] Death benefit, as provided by KRS 61.705;
Page 203 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (30)[(36)] Death benefit, as provided by KRS 61.705;
(33)[(39)] Disability procedure for members in hazardous positions as provided for in Page 205 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 KRS 16.582;
(33)[(39)] Disability procedure for members in hazardous positions as provided for in KRS 16.582;
Effective April 1, 2021, as it relates to KRS 16.582, 61.545, 61.552, 61.590, 61.598, 61.600, 61.615, 61.655, 61.660, 61.665, 61.691, 61.703, and 61.705, references to "Kentucky Retirement Systems" or "systems administered by Kentucky Retirement Systems" as it relates to benefit eligibility shall include the County Employees Retirement System and references to "Kentucky Retirement Systems" or the "Kentucky Retirement Systems board of trustees" as it relates to administrative decisions, duties, requirements, or conflict of interest provisions shall for purposes of the County Employees Retirement System mean the County Employees Retirement System or County Employees Retirement System board of trustees, as applicable.
Effective April 1, 2021, as it relates to KRS 16.582, 61.545, 61.552, 61.590, 61.598, 61.600, 61.615, 61.655, 61.660, 61.665, 61.691, 61.703, and 61.705, references to "Kentucky Retirement Systems" or "systems administered by Kentucky Retirement Systems" as it relates to benefit eligibility shall include the County Employees Page 204 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Retirement System and references to "Kentucky Retirement Systems" or the "Kentucky Retirement Systems board of trustees" as it relates to administrative decisions, duties, requirements, or conflict of interest provisions shall for purposes of the County Employees Retirement System mean the County Employees Retirement System or County Employees Retirement System board of trustees, as applicable.
Page 206 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (1) As used in this section:
(1) As used in this section:
and (e) Retired with no preexisting agreement between the individual and the city prior to the individual's retirement for the individual to return to work for the city.
and (e) Retired with no preexisting agreement between the individual and the city prior to the individual's retirement for the individual to return to work for the Page 205 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN city.
and Page 207 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (c) Be employed based upon need as determined by the employing city.
and (c) Be employed based upon need as determined by the employing city.
(a) A city government that employed an average of five (5) or fewer police officers over the course of calendar year 2015 shall not be limited in the number of officers that they may hire under this section;
Page 206 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (a) A city government that employed an average of five (5) or fewer police officers over the course of calendar year 2015 shall not be limited in the number of officers that they may hire under this section;
(b) A city government that employed an average of more than five (5) but fewer than one hundred (100) police officers over the course of calendar year 2015 shall not hire more than five (5) police officers or a number equal to twenty- Page 208 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 five percent (25%) of the police officers employed by the city in calendar year 2015, whichever is greater;
(b) A city government that employed an average of more than five (5) but fewer than one hundred (100) police officers over the course of calendar year 2015 shall not hire more than five (5) police officers or a number equal to twenty- five percent (25%) of the police officers employed by the city in calendar year 2015, whichever is greater;
A majority of the governing body of each fund shall be composed of persons receiving pension benefits from the respective pension systems, and no more than one (1) member of the city legislative body may be a member of the governing body of either the policemen's or the firefighters' pension fund, except if there are fewer than six (6) active and retired members of the policemen's or the firefighters' pension fund, the governing body of the pension fund shall be Page 209 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 composed of the mayor, city treasurer or chief financial officer, and two (2) employees appointed by the mayor from the city's respective police department or fire department.
A majority Page 207 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN of the governing body of each fund shall be composed of persons receiving pension benefits from the respective pension systems, and no more than one (1) member of the city legislative body may be a member of the governing body of either the policemen's or the firefighters' pension fund, except if there are fewer than six (6) active and retired members of the policemen's or the firefighters' pension fund, the governing body of the pension fund shall be composed of the mayor, city treasurer or chief financial officer, and two (2) employees appointed by the mayor from the city's respective police department or fire department.
(3) Any policemen's pension fund or any firefighters' pension fund established under the provisions of this section shall be held or distributed for, and only for, any of the following purposes of the respective fund as applicable:
(3) Any policemen's pension fund or any firefighters' pension fund established under Page 208 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the provisions of this section shall be held or distributed for, and only for, any of the following purposes of the respective fund as applicable:
(b) Making payments to the city for transfer to the County Employees Retirement System for alternate participation pursuant to KRS 78.530(3)(a) and 78.531(2) or for the distribution of residual assets in the event the fund is dissolved Page 210 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 pursuant to subsection (2)(b) of this section;
(b) Making payments to the city for transfer to the County Employees Retirement System for alternate participation pursuant to KRS 78.530(3)(a) and 78.531(2) or for the distribution of residual assets in the event the fund is dissolved pursuant to subsection (2)(b) of this section;
Pursuant to the terms of this section, if firefighters of the city of the first class elect entry into the County Employees Retirement System and thereby create excess funds over those required to provide for the purposes set forth in paragraphs (a), (b), and (c) of this subsection, these excess funds shall be distributed according to the terms of an agreement negotiated between the city and the union organization representing the firefighters.
Pursuant to the terms of this section, if firefighters of the city of the first class elect entry into the County Employees Retirement System and thereby create excess funds over those required to provide for the purposes set Page 209 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN forth in paragraphs (a), (b), and (c) of this subsection, these excess funds shall be distributed according to the terms of an agreement negotiated between the city and the union organization representing the firefighters.
Page 211 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (4) (a) The governing body of each pension fund shall insure that all of the assets in the fund are distributed for the purposes in subsection (3) of this section, and only for these purposes.
(4) (a) The governing body of each pension fund shall insure that all of the assets in the fund are distributed for the purposes in subsection (3) of this section, and only for these purposes.
(6) To assure equal protection for the beneficiaries of either fund, any action taken by the city executive or legislative body in cities of the first class that affects a policemen's pension fund or a firefighters' pension fund established under this section shall, to the maximum extent permitted by law, treat each fund in a uniform manner and shall not cause any change to be made to the structure or operation of either fund, whether through legislation, litigation, compromise, settlement, or otherwise, unless any proposed change is offered to the other fund before it takes effect.
(6) To assure equal protection for the beneficiaries of either fund, any action taken by the city executive or legislative body in cities of the first class that affects a policemen's pension fund or a firefighters' pension fund established under this section shall, to the maximum extent permitted by law, treat each fund in a uniform Page 210 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN manner and shall not cause any change to be made to the structure or operation of either fund, whether through legislation, litigation, compromise, settlement, or otherwise, unless any proposed change is offered to the other fund before it takes effect.
(7) The legislative body in a city of the first class shall issue the appropriate order, Page 212 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 pursuant to KRS 78.530(1), directing participation for policemen in the County Employees Retirement System.
(7) The legislative body in a city of the first class shall issue the appropriate order, pursuant to KRS 78.530(1), directing participation for policemen in the County Employees Retirement System.
(8) The legislative body in a city of the first class may issue the appropriate order, pursuant to KRS 78.530(1), directing participation for firefighters in the County Employees Retirement System.
(8) The legislative body in a city of the first class may issue the appropriate order, Page 211 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN pursuant to KRS 78.530(1), directing participation for firefighters in the County Employees Retirement System.
All active members of the local firefighters' pension system at the time of transition to the County Employees Page 213 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Retirement System may choose membership in the County Employees Retirement System or may retain membership in the local system.
All active members of the local firefighters' pension system at the time of transition to the County Employees Retirement System may choose membership in the County Employees Retirement System or may retain membership in the local system.
This agreement may include, but is not limited to, specifications of what portion of the required employer contribution shall be borne by the participating employer and what portion shall be borne by the participating employee.
This agreement may include, but is not limited to, specifications of what portion of Page 212 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the required employer contribution shall be borne by the participating employer and what portion shall be borne by the participating employee.
Page 214 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (10) With regard to the employer participation or employer contributions pursuant to Sections 8 and 28 of this Act[KRS 61.565] as it relates to future pension contribution requirements or as it relates to payback period or interest charge for service liability cost under alternate participation, if any statute or any resolution of the appropriate state board of trustees having authority over employer participation or employer contribution grants any terms or conditions to any city of the home rule class, or to any county, or to any urban-county government, which are more favorable in terms of participation than terms or conditions granted to any city of the first class, then said provisions for employer participation or contribution shall be available to the city of the first class, at its option and effective upon adoption by the city of the first class and notification to the County Employees Retirement System.
(10) With regard to the employer participation or employer contributions pursuant to Sections 8 and 28 of this Act[KRS 61.565] as it relates to future pension contribution requirements or as it relates to payback period or interest charge for service liability cost under alternate participation, if any statute or any resolution of the appropriate state board of trustees having authority over employer participation or employer contribution grants any terms or conditions to any city of the home rule class, or to any county, or to any urban-county government, which are more favorable in terms of participation than terms or conditions granted to any city of the first class, then said provisions for employer participation or contribution shall be available to the city of the first class, at its option and effective upon adoption by the city of the first class and notification to the County Employees Retirement System.
(b) Service purchased under this subsection shall not be used in determining a retirement allowance until the member has accrued at least six (6) months of service credit in a state-administered retirement system, excluding the service purchased under this subsection.
(b) Service purchased under this subsection shall not be used in determining a retirement allowance until the member has accrued at least six (6) months of Page 213 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN service credit in a state-administered retirement system, excluding the service purchased under this subsection.
The service requirement shall Page 215 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 be waived if the member dies or becomes disabled as provided for by KRS 16.582, 61.600, or 61.621.
The service requirement shall be waived if the member dies or becomes disabled as provided for by KRS 16.582, 61.600, or 61.621.
(4) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may purchase service credit in the Kentucky Employees Retirement System for service between July 1, 1956, and the effective date of participation of his department.
Page 214 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN (4) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may purchase service credit in the Kentucky Employees Retirement System for service between July 1, 1956, and the effective date of participation of his department.
Page 216 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (5) (a) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may purchase service credit in the County Employees Retirement System for service between July 1, 1958, and the effective date of participation of his county.
(5) (a) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may purchase service credit in the County Employees Retirement System for service between July 1, 1958, and the effective date of participation of his county.
(6) The member shall not receive service credit for the same period of time in which the member has service credit in one (1) of the systems administered by Kentucky Retirement Systems or another public defined benefit retirement fund.
(6) The member shall not receive service credit for the same period of time in which the member has service credit in one (1) of the systems administered by Kentucky Page 215 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Retirement Systems or another public defined benefit retirement fund.
(7) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months' service if age sixty-five (65) or at least sixty (60) months' service if under age sixty-five (65) in the retirement systems administered by the Kentucky Retirement Systems, who formerly worked for a state university in a nonteaching position which would have Page 217 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 qualified as a regular full-time position had the university been a participating department, and who did not participate in a defined benefit retirement program at the university, may purchase service credit in any of the systems administered by Kentucky Retirement Systems in which the employee is a member for the service he would have received had his period of university employment been covered by the County Employees Retirement System, Kentucky Employees Retirement System, or State Police Retirement System.
(7) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months' service if age sixty-five (65) or at least sixty (60) months' service if under age sixty-five (65) in the retirement systems administered by the Kentucky Retirement Systems, who formerly worked for a state university in a nonteaching position which would have qualified as a regular full-time position had the university been a participating department, and who did not participate in a defined benefit retirement program at the university, may purchase service credit in any of the systems administered by Kentucky Retirement Systems in which the employee is a member for the service he would have received had his period of university employment been covered by the County Employees Retirement System, Kentucky Employees Retirement System, or State Police Retirement System.
The county shall establish a payment schedule subject to approval by the board for payment of the service credit.
The county Page 216 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN shall establish a payment schedule subject to approval by the board for payment of the service credit.
(d) If a county or department elects the provisions of this subsection, any present Page 218 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 employee who would be eligible to receive service credit under the provisions of this subsection and has purchased service credit under subsection (4) or (5) of this section shall have his payment for the service credit refunded with interest at the rate paid under KRS 61.575 or 78.640.
(d) If a county or department elects the provisions of this subsection, any present employee who would be eligible to receive service credit under the provisions of this subsection and has purchased service credit under subsection (4) or (5) of this section shall have his payment for the service credit refunded with interest at the rate paid under KRS 61.575 or 78.640.
(11) (a) Effective August 1, 1988, any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by Kentucky Retirement Systems may purchase service credit for interim, seasonal, emergency, temporary, probationary, or part-time employment averaging one hundred (100) or more hours of work per month on a calendar Page 219 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 or fiscal year basis.
(11) (a) Effective August 1, 1988, any employee participating in one (1) of the Page 217 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by Kentucky Retirement Systems may purchase service credit for interim, seasonal, emergency, temporary, probationary, or part-time employment averaging one hundred (100) or more hours of work per month on a calendar or fiscal year basis.
The employee may also purchase service credit for agency-approved leave to work for a work-related labor organization if the agency subsequently participated in the County Employees Retirement System, but only if the Kentucky Retirement Systems receives a favorable private letter ruling from the United States Internal Revenue Service or a favorable opinion letter from the United States Department of Labor.
The employee may also purchase service Page 218 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN credit for agency-approved leave to work for a work-related labor organization if the agency subsequently participated in the County Employees Retirement System, but only if the Kentucky Retirement Systems receives a favorable private letter ruling from the United States Internal Revenue Service or a favorable opinion letter from the United States Department of Labor.
(13) Any employee participating in one (1) of the retirement systems administered by Page 220 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by Kentucky Retirement Systems may purchase service credit for any period of authorized maternity leave, unpaid leave authorized under the Federal Family and Medical Leave Act, or for any period of authorized sick leave without pay.
(13) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by Kentucky Retirement Systems may purchase service credit for any period of authorized maternity leave, unpaid leave authorized under the Federal Family and Medical Leave Act, or for any period of authorized sick leave without pay.
or b.
or Page 219 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN b.
Transferring funds to the systems through a direct trustee-to-trustee Page 221 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 transfer as permitted under the applicable sections of the Internal Revenue Code and any regulations or rulings issued thereunder, through a direct rollover as contemplated by and permitted under 26 U.S.C.
Transferring funds to the systems through a direct trustee-to-trustee transfer as permitted under the applicable sections of the Internal Revenue Code and any regulations or rulings issued thereunder, through a direct rollover as contemplated by and permitted under 26 U.S.C.
2.
Page 220 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN 2.
may have the installment purchase recalculated to add one (1) or Page 222 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 more additional service purchases;
may have the installment purchase recalculated to add one (1) or more additional service purchases;
The retirement system shall determine how much of the total cost represents payment for one (1) month of the service to be purchased and shall credit one (1) month of service to the member's account each time this amount has been paid.
The retirement system shall determine how much of the total cost represents payment for one (1) month of the service to be purchased and shall credit one (1) month of service to the member's account each time Page 221 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN this amount has been paid.
If the employee utilizing an installment purchase of service agreement dies, retires, does not continue employment in a position required to Page 223 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 participate in the retirement system, or elects to stop an after-tax installment purchase of service agreement, the member, or in the case of death, the beneficiary, shall have sixty (60) days to pay the remaining principal or a portion of the remaining principal of the installment purchase of service agreement by lump sum, subject to the restrictions of paragraph (a)1.
If the employee utilizing an installment purchase of service agreement dies, retires, does not continue employment in a position required to participate in the retirement system, or elects to stop an after-tax installment purchase of service agreement, the member, or in the case of death, the beneficiary, shall have sixty (60) days to pay the remaining principal or a portion of the remaining principal of the installment purchase of service agreement by lump sum, subject to the restrictions of paragraph (a)1.
Installment payments of employees on military leave or sick leave without pay shall be suspended during the period of leave and shall resume without recalculation upon the employee's return from leave.
Installment payments of employees on military leave or sick leave Page 222 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN without pay shall be suspended during the period of leave and shall resume without recalculation upon the employee's return from leave.
of this paragraph and the member later becomes a participating employee in one (1) of the three (3) systems administered by Kentucky Retirement Systems, the employee may complete the adjusted original installment purchase by Page 224 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 lump sum or installment payments, subject to the restrictions of this subsection.
of this paragraph and the member later becomes a participating employee in one (1) of the three (3) systems administered by Kentucky Retirement Systems, the employee may complete the adjusted original installment purchase by lump sum or installment payments, subject to the restrictions of this subsection.
The employee shall provide proof that he is not eligible for a retirement benefit for the period of service from the other state's plan.
The employee shall Page 223 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN provide proof that he is not eligible for a retirement benefit for the period of service from the other state's plan.
(16) After August 1, 1998, any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has sixty (60) or more months of service in the State Police Retirement System or in a hazardous position in the Kentucky Employees Retirement System or the County Employees Page 225 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Retirement System, may purchase service credit in the system in which the employee has the sixty (60) months of service credit for up to ten (10) years of service in a regular full-time position that was credited to a defined benefit retirement plan administered by a state or local government in another state, if the service could be certified as hazardous pursuant to KRS 61.592.
(16) After August 1, 1998, any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has sixty (60) or more months of service in the State Police Retirement System or in a hazardous position in the Kentucky Employees Retirement System or the County Employees Retirement System, may purchase service credit in the system in which the employee has the sixty (60) months of service credit for up to ten (10) years of service in a regular full-time position that was credited to a defined benefit retirement plan administered by a state or local government in another state, if the service could be certified as hazardous pursuant to KRS 61.592.
(18) An employee participating in any retirement system administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty- five (65), or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by Kentucky Retirement Systems, and who was formerly employed in a regional community services program for mental health and individuals with an intellectual disability, organized and operated under the provisions of KRS 210.370 to 210.480, which does not participate in a state- administered retirement system may purchase service credit for the period of his service in the regional community program for mental health and individuals with an intellectual disability.
(18) An employee participating in any retirement system administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty- five (65), or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by Kentucky Retirement Systems, and who was formerly employed in a regional community services program for mental health and individuals with an intellectual disability, organized and operated under the provisions of KRS 210.370 to 210.480, which does not participate in a state- administered retirement system may purchase service credit for the period of his Page 224 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN service in the regional community program for mental health and individuals with an intellectual disability.
(19) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, who was Page 226 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 employed by a vocational technical school in a noncertified part-time position averaging eighty (80) or more hours per month, determined by using the number of months actually worked within a calendar or fiscal year, may purchase service credit in the Kentucky Employees Retirement System.
(19) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, who was employed by a vocational technical school in a noncertified part-time position averaging eighty (80) or more hours per month, determined by using the number of months actually worked within a calendar or fiscal year, may purchase service credit in the Kentucky Employees Retirement System.
Service credit shall not be credited to the member's account until the employer contributions and any interest or penalties on the delinquent employer contributions are received by the retirement system.
Service credit shall not be credited to the member's account until Page 225 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN the employer contributions and any interest or penalties on the delinquent employer contributions are received by the retirement system.
(c) Service purchased under this subsection by employees who begin participating on or after September 1, 2008, shall be considered service credited under KRS 16.543(1), 61.543(1), or 78.615(1) for purposes of determining eligibility for retirement benefits under KRS 16.505 to 16.652, 61.510 to 61.705, and Page 227 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 78.510 to 78.852.
(c) Service purchased under this subsection by employees who begin participating on or after September 1, 2008, shall be considered service credited under KRS 16.543(1), 61.543(1), or 78.615(1) for purposes of determining eligibility for retirement benefits under KRS 16.505 to 16.652, 61.510 to 61.705, and 78.510 to 78.852.
(21) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems may purchase service credit for employment with a public agency that would have been eligible to participate under KRS 61.520 but which did not participate in the Kentucky Employees Retirement System or a political subdivision that would have been eligible to participate under KRS 78.530 but which did not participate in the Page 228 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 County Employees Retirement System if the former public agency or political subdivision has merged with or been taken over by a participating department or county.
(21) Any employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems who has at least forty-eight (48) months of service if Page 226 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems may purchase service credit for employment with a public agency that would have been eligible to participate under KRS 61.520 but which did not participate in the Kentucky Employees Retirement System or a political subdivision that would have been eligible to participate under KRS 78.530 but which did not participate in the County Employees Retirement System if the former public agency or political subdivision has merged with or been taken over by a participating department or county.
(23) An employee participating in one (1) of the retirement systems administered by Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65), or at least sixty (60) months of service if under age sixty-five (65), in the systems administered by Kentucky Retirement Systems, may obtain credit in the County Employees Retirement System for the period of that employee's service with a community action agency created under KRS 273.405 to 273.453 if that service was not covered by a state-administered retirement system.
(23) An employee participating in one (1) of the retirement systems administered by Page 227 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65), or at least sixty (60) months of service if under age sixty-five (65), in the systems administered by Kentucky Retirement Systems, may obtain credit in the County Employees Retirement System for the period of that employee's service with a community action agency created under KRS 273.405 to 273.453 if that service was not covered by a state-administered retirement system.
Page 229 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 (24) An employee may obtain credit for regular full-time service with an agency prior to August 1, 1998, for which the employee did not receive credit due to KRS 61.637(1).
(24) An employee may obtain credit for regular full-time service with an agency prior to August 1, 1998, for which the employee did not receive credit due to KRS 61.637(1).
(25) An employee participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may obtain credit for the service in a regular full-time position otherwise creditable under the Kentucky Employees Retirement System, the County Employees Retirement System, or the State Police Retirement System for service in the United States government, other than service in the Armed Forces, for which service is not otherwise given.
(25) An employee participating in one (1) of the retirement systems administered by the Kentucky Retirement Systems, who has at least forty-eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may obtain credit for the service in a regular full-time position otherwise creditable under the Kentucky Employees Retirement System, the County Employees Retirement System, or the State Police Retirement System for service in the United States Page 228 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN government, other than service in the Armed Forces, for which service is not otherwise given.
(26) An employee participating in a hazardous position in one (1) of the retirement systems administered by the Kentucky Retirement Systems, who has at least forty- eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Page 230 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Retirement Systems, may obtain credit for service in a regular full-time position in an urban-county government that would qualify for hazardous duty coverage under KRS 61.592.
(26) An employee participating in a hazardous position in one (1) of the retirement systems administered by the Kentucky Retirement Systems, who has at least forty- eight (48) months of service if age sixty-five (65) or at least sixty (60) months of service if under age sixty-five (65) in the systems administered by the Kentucky Retirement Systems, may obtain credit for service in a regular full-time position in an urban-county government that would qualify for hazardous duty coverage under KRS 61.592.
Section 45.
Page 229 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Section 45.
All administrative decisions made by the Kentucky Retirement Systems board of trustees prior to April 1, 2021, on behalf of the County Employees Retirement System, including but not limited to approval for hazardous positions, administrative decisions, and disability determinations, shall be implemented on April 1, 2021, and shall not be reversed except under the authority granted by KRS 78.510 to 78.852 to the County Employees Retirement System board of trustees or the Kentucky Page 231 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 Public Pensions Authority as granted by Section 2 of this Act, as applicable, except that the retiree health plans established for the plan year beginning January 1, 2021, through December 31, 2021, by the Kentucky Retirement Systems board of trustees for recipients of the County Employees Retirement System shall not be altered by the County Employees Retirement System board of trustees for that specific plan year.
All administrative decisions made by the Kentucky Retirement Systems board of trustees prior to April 1, 2021, on behalf of the County Employees Retirement System, including but not limited to approval for hazardous positions, administrative decisions, and disability determinations, shall be implemented on April 1, 2021, and shall not be reversed except under the authority granted by KRS 78.510 to 78.852 to the County Employees Retirement System board of trustees or the Kentucky Public Pensions Authority as granted by Section 2 of this Act, as applicable, except that the retiree health plans established for the plan year beginning January 1, 2021, through December 31, 2021, by the Kentucky Retirement Systems board of trustees for recipients of the County Employees Retirement System shall not be altered by the County Employees Retirement System board of trustees for that specific plan year.
The three trustees who were appointed Page 230 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN by a Governor to the Kentucky Retirement Systems board prior to April 1, 2021, who were selected by a Governor from lists submitted by the Kentucky Association of Counties, the Kentucky League of Cities, and the Kentucky School Boards Association and serving on the Kentucky Retirement Systems board immediately prior to April 1, 2021, shall, notwithstanding any other provision of Section 3 of this Act to the contrary, serve on the County Employees Retirement System board of trustees as provided by Section 3 of this Act for the duration of their term of office and shall be considered the three trustees appointed by the Governor who have retirement experience as provided by subsection (1)(b) and (1)(d) of Section 3 of this Act.
Notwithstanding any other provision of Section 4 of this Act to the contrary, the six trustees with investment experience appointed by a Governor to the Kentucky Retirement Systems board prior to April 1, 2021, and serving on the Kentucky Retirement Systems board immediately prior to April 1, 2021, shall serve for the duration of their term of office as the appointed trustees with investment experience and retirement experience of the newly constituted Kentucky Retirement Systems board of trustees effective April 1, 2021.
The Governor shall on or before March 1, 2021, appoint the six appointed trustees of the County Employees Retirement System board as provided by subsection (1)(b) to (d) of Section 3 of this Act so that the new trustees can assume their term of office on April 1, 2021.
The Governor shall on or before March 1, 2021, appoint the three appointed trustees of the County Employees Retirement System board who must have investment experience as provided by subsection (1)(b) and (1)(d) of Section 3 of this Act so that the new trustees can assume their term of office on April 1, 2021.
Notwithstanding the provisions of Section 3 of this Act as it relates solely to terms of office, three of the trustees appointed by the Governor pursuant to Section 3 of this Act shall be appointed to an initial term of two years and Page 232 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 three of the trustees appointed by the Governor pursuant to Section 3 of this Act shall be appointed to an initial term of four years.
Notwithstanding the provisions of Section 3 of this Act as it relates solely to terms of office, the three trustees appointed by the Governor pursuant to Section 3 of this Act who must have investment experience shall be appointed to staggered terms, with one appointed trustee serving an initial term of two years, one appointed trustee serving an initial term of three years, and one appointed trustee serving an initial term of four years.
The Kentucky League of Cities, the Kentucky Association of Counties, and the Kentucky School Boards Association shall submit a list of applicants on or before January 1, 2021, to be appointed by the Governor pursuant to Section 3 of this Act.
The Kentucky League of Cities, the Kentucky Association of Counties, and the Kentucky School Boards Association shall submit a list of applicants with investment experience on or before January 1, 2021, to be appointed by the Governor pursuant to Section 3 of this Act.
Section 48.
Page 231 of 233 HB048420.100 - 298 - XXXX Engrossed UNOFFICIAL COPY 20 RS HB 484/EN Section 48.
The Governor shall appoint the six appointed trustees of the Kentucky Retirement Systems as provided by subsection (1)(c) to (e) of Section 4 of this Act prior to April 1, 2021, and any trustees previously appointed by a Governor and currently serving on the Kentucky Retirement Systems board of trustees may be appointed by the Governor provided he or she meets the qualifications of Section 4 of this Act for the appointment.
Notwithstanding the provisions of Section 4 of this Act as it relates solely to terms of office, three of the trustees appointed by the Governor pursuant to Section 4 of this Act shall be appointed to an initial term of two years and three of the trustees appointed by the Governor pursuant to Section 4 of this Act shall be appointed to an initial term of four years.
Section 49.
and (2) Effective April 1, 2021, the board of trustees of the Kentucky Retirement Systems and the County Employees Retirement System shall include the number and composition of the boards established by Sections 3 and 4 of this Act respectively.
and (2) Effective April 1, 2021, the board of trustees of the Kentucky Retirement Systems and the County Employees Retirement System shall include the number and composition of the boards established by Sections 3, and 4, 46, and 47 of this Act, as applicable respectively.
Section 49.
No provisions of this Act shall increase or decrease benefits being paid to retirees, beneficiaries, or recipients of the Kentucky Retirement Systems or the County Employees Retirement System nor shall any provisions of this Act increase or decrease benefits that have accrued to members of the Kentucky Retirement Systems or the County Employees Retirement System on the effective date of this Act.
No provisions of this Act shall increase or decrease benefits being Page 233 of 234 XXXX Jacketed UNOFFICIAL COPY 20 RS BR 298 paid to retirees, beneficiaries, or recipients of the Kentucky Retirement Systems or the County Employees Retirement System nor shall any provisions of this Act increase or decrease benefits that have accrued to members of the Kentucky Retirement Systems or the County Employees Retirement System on the effective date of this Act.
Section 51.
Section 52.
Section 51.
Section 53.
Section 52.
Page 234 of 234 XXXX Jacketed
Section 53.
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Action History

  1. signed by Governor (Acts ch. 79)

  2. delivered to Governor

  3. enrolled, signed by President of the Senate

  4. enrolled, signed by Speaker of the House

  5. passed 78-4

  6. House concurred in Senate floor amendments (3) (4) (5) and (6-title)

  7. posted for passage for concurrence in Senate floor amendments (3) (4) (5) and (6-title)

  8. to Rules (H)

  9. received in House

  10. passed 31-1 with floor amendments (3) (4) (5) and (6-title)

  11. floor amendments (1) and (2) withdrawn

  12. 3rd reading

  13. floor amendments (5) and (6-title) filed

  14. posted for passage in the Regular Orders of the Day for Thursday, March 26, 2020

  15. floor amendments (1), (2), (3) and (4) filed

  16. reported favorably, 2nd reading, to Rules

  17. to State & Local Government (S)

  18. returned to Committee on Committees (S)

  19. 1st reading

  20. taken from Committee on Committees (S)

  21. received in Senate

  22. 3rd reading, passed 90-4 with Committee Substitute (1)

  23. floor amendment (1) filed to Committee Substitute

  24. posted for passage in the Regular Orders of the Day for Tuesday, March 10, 2020

  25. reported favorably, 2nd reading, to Rules with Committee Substitute (1)

  26. returned to Local Government (H)

  27. 1st reading

  28. taken from Local Government (H)

  29. posted in committee

  30. to Local Government (H)

  31. introduced in House

Sponsorship breakdown

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0 sponsors · 0 co-sponsors · 138 not signed on · 2 voted No

Sponsors (0)

None.

Co-sponsors (0)

None.

Not signed on (138)

138 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

PASS HB 484 W/ sfa3, sfa4, sfa5, sfta6

Passed 31 Yea · 1 Nay · 6 Other
Party YeaNayPresentNot Voting
Unaffiliated 17105
Republican 14000
Democrat 0001
Total 31106
% of votes cast 82%3%0%16%
How each member voted (38)
Member Party Vote
Alvarado — Yea
Hornback — Yea
Turner — Yea
Humphries — Yea
Robinson — Yea
Carroll D — Yea
Schickel — Yea
Embry — Yea
McGarvey — Yea
Schroder — Yea
Westerfield — Yea
Meredith — Yea
Harris — Yea
Nemes — Yea
Thayer — Yea
Parrett — Yea
Thomas — Yea
Buford — Nay
Clark — Not Voting
Kerr — Not Voting
Castlen — Not Voting
Harper Angel — Not Voting
Miller J — Not Voting
Gerald A. Neal Democrat Not Voting
Brandon Smith Republican Yea
Christian McDaniel Republican Yea
David P. Givens Republican Yea
Jared Carpenter Republican Yea
Jimmy Higdon Republican Yea
Julie Raque Adams Republican Yea
Max Wise Republican Yea
Mike Wilson Republican Yea
Phillip Wheeler Republican Yea
Rick Girdler Republican Yea
Robby Mills Republican Yea
Robert Stivers Republican Yea
Robin L. Webb Republican Yea
Stephen West Republican Yea

Official roll call →

Final Passage

Passed 78 Yea · 4 Nay · 18 Other
Party YeaNayPresentNot Voting
Unaffiliated 442016
Republican 30001
Democrat 4201
Total 784018
% of votes cast 78%4%0%18%
How each member voted (100)
Member Party Vote
Branham Clark — Yea
Turner — Not Voting
Frazier — Yea
Minter — Yea
Sheldon — Yea
Bechler — Yea
Sims — Yea
Bentley — Yea
Koenig — Yea
Nemes — Yea
Sorolis — Yea
Goforth — Yea
Stone — Yea
Lee — Yea
Booker — Yea
Graviss — Yea
Lewis D — Yea
Pratt — Yea
Lewis S — Yea
Prunty — Yea
Thomas — Yea
Harris — Yea
Brenda — Yea
Massey — Yea
Hatton — Yea
Webber — Yea
Cantrell — Yea
Heath — Yea
McCoy — Yea
Rothenburger — Yea
Wheatley — Yea
Rowland — Yea
DuPlessis — Yea
Howard — Yea
Meredith — Yea
Wiederstein — Yea
Meyer — Yea
Santoro — Yea
Huff T — Yea
Schamore — Yea
Yates — Yea
Fischer — Yea
Jenkins — Yea
Graham — Nay
Hinkle — Nay
Donohue — Not Voting
Rand — Not Voting
Stewart — Not Voting
Brown G — Not Voting
Flood — Not Voting
Meeks — Not Voting
Raymond — Not Voting
Burch — Not Voting
Glenn — Not Voting
Scott — Not Voting
Westrom — Not Voting
Carney — Not Voting
Hoover — Not Voting
Palumbo — Not Voting
Huff R — Yea
Miller C — Not Voting
Miller J — Yea
Al Gentry Democrat Nay
Ashley Tackett Laferty Democrat Yea
Lisa Willner Democrat Yea
Mary Lou Marzian Democrat Not Voting
Nima Kulkarni Democrat Yea
Pamela Stevenson Democrat Nay
Tina Bojanowski Democrat Yea
Aaron Reed Republican Yea
Adam Bowling Republican Not Voting
Bobby McCool Republican Yea
Chris Freeland Republican Yea
Chris Fugate Republican Yea
Daniel Elliott Republican Yea
David Hale Republican Yea
David Meade Republican Yea
David W. Osborne Republican Yea
Greg Elkins Republican Yea
James Tipton Republican Yea
Jason Petrie Republican Yea
Jim Gooch Jr. Republican Yea
John Blanton Republican Yea
Ken Upchurch Republican Yea
Kim Banta Republican Yea
Kim King Republican Yea
Kimberly Poore Moser Republican Yea
Mark Hart Republican Yea
Matthew Koch Republican Yea
Myron Dossett Republican Yea
Nancy Tate Republican Yea
Randy Bridges Republican Yea
Richard White Republican Yea
Samara Heavrin Republican Yea
Savannah Maddox Republican Yea
Steve Bratcher Republican Yea
Steve Riley Republican Yea
Steven Rudy Republican Yea
Suzanne Miles Republican Yea
T.J. Roberts Republican Yea

Official roll call →

Pass

Passed 90 Yea · 4 Nay · 6 Other
Party YeaNayPresentNot Voting
Republican 31000
Unaffiliated 53306
Democrat 6100
Total 90406
% of votes cast 90%4%0%6%
How each member voted (100)
Member Party Vote
Fischer — Yea
Huff T — Yea
Scott — Yea
Bechler — Yea
Flood — Yea
Jenkins — Yea
Minter — Yea
Sheldon — Yea
Bentley — Yea
Frazier — Yea
Sims — Yea
Nemes — Yea
Sorolis — Yea
Koenig — Yea
Stewart — Yea
Palumbo — Yea
Stone — Yea
Branham Clark — Yea
Glenn — Yea
Lee — Yea
Goforth — Yea
Lewis D — Yea
Pratt — Yea
Brenda — Yea
Lewis S — Yea
Prunty — Yea
Thomas — Yea
Graviss — Yea
Raymond — Yea
Brown G — Yea
Turner — Yea
Burch — Yea
Massey — Yea
Cantrell — Yea
Hatton — Yea
Webber — Yea
Donohue — Yea
Heath — Yea
McCoy — Yea
Rothenburger — Yea
Wheatley — Yea
Rowland — Yea
DuPlessis — Yea
Hinkle — Yea
Meredith — Yea
Wiederstein — Yea
Howard — Yea
Meyer — Yea
Santoro — Yea
Schamore — Yea
Yates — Yea
Graham — Nay
Meeks — Nay
Westrom — Nay
Booker — Not Voting
Harris — Not Voting
Hoover — Not Voting
Rand — Not Voting
Carney — Not Voting
Huff R — Yea
Miller C — Yea
Miller J — Not Voting
Al Gentry Democrat Yea
Ashley Tackett Laferty Democrat Yea
Lisa Willner Democrat Yea
Mary Lou Marzian Democrat Yea
Nima Kulkarni Democrat Yea
Pamela Stevenson Democrat Nay
Tina Bojanowski Democrat Yea
Aaron Reed Republican Yea
Adam Bowling Republican Yea
Bobby McCool Republican Yea
Chris Freeland Republican Yea
Chris Fugate Republican Yea
Daniel Elliott Republican Yea
David Hale Republican Yea
David Meade Republican Yea
David W. Osborne Republican Yea
Greg Elkins Republican Yea
James Tipton Republican Yea
Jason Petrie Republican Yea
Jim Gooch Jr. Republican Yea
John Blanton Republican Yea
Ken Upchurch Republican Yea
Kim Banta Republican Yea
Kim King Republican Yea
Kimberly Poore Moser Republican Yea
Mark Hart Republican Yea
Matthew Koch Republican Yea
Myron Dossett Republican Yea
Nancy Tate Republican Yea
Randy Bridges Republican Yea
Richard White Republican Yea
Samara Heavrin Republican Yea
Savannah Maddox Republican Yea
Steve Bratcher Republican Yea
Steve Riley Republican Yea
Steven Rudy Republican Yea
Suzanne Miles Republican Yea
T.J. Roberts Republican Yea

Official roll call →

Subjects

finance labor
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Frequently asked questions

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This bill has been enacted into law. Introduced February 25, 2020. Enacted.
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