Kentucky HB 351: AN ACT relating to Kentucky Retirement Systems agency participation and declaring an emergency. Amend KRS 61.522 to remove installments as a payment option for agencies required to pay the actuarial costs for ceasing participation in the Kentucky Retirement Systems; clarify conditions in which an employee seeking to transfer funds to the ceasing employer's alternative retirement program is not included in the employer actuarial cost calculation; specify that the systems shall develop separate assumptions for determining the employer's cost to cease participation; specify the formula for determining the assumed rate of return in the cost calculation; provide noncodified language to state the provisions shall apply retroactively to any matter pending before the Kentucky Retirement Systems board; EMERGENCY.

Status: Signed by Governor (Acts, ch. 104) (as of 2017-03-21)

State: Kentucky · Session: 2017RS · Bill: HB 351

View Kentucky HB 351 on LegisTrack → — full text, sponsors, votes, campaign finance, and cross-state matches.