Kentucky HB 338: AN ACT relating to a pension surcharge on state contracts to be applied to the Kentucky Retirement Systems unfunded liability, making an appropriation therefor, and declaring an emergency. Create a new section of KRS 61.510 to 61.705 to create a five percent surcharge on state contracts for personnel hired in lieu of hiring a state employee; require the surcharge to be paid to the unfunded liability trust fund created under KRS 61.706 to be applied to the Kentucky Employees Retirement System nonhazardous pension fund; apply to all participating employers and for all memoranda of agreement and personnel service contracts, as defined in KRS 45A.690 of the Model Procurement Code.

Status: To Appropriations & Revenue (H) (as of 2018-02-12)

State: Kentucky · Session: 2018RS · Bill: HB 338

Sponsors: J. Kay

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