SB 270

Bill Subjects

Actuarial Analysis Retirement And Pensions State Agencies State Employees

Abstract

Amend KRS 61.565 to provide that the Kentucky Public Pensions Authority (KPPA) shall provide Kentucky Employees Retirement System (KERS) employers with any demographic, financial, or actuarial data requested by the employer, including member-specific data for current and former employees of the employer, that was used to assign liabilities to and contributions payable by the employer; establish an appeals process beginning August 1, 2022, with a final determination by December 31, 2022, regarding the assignment of liabilities to each Kentucky Employees Retirement System (KERS) employer for any appeals not previously submitted during the 2021 appeals process or for any appeals submitted during the 2021 appeals process in which additional information is available; amend KRS 61.5991 to provide that contracts currently exempted from the reporting requirements established by HB 8 during the 2021 Regular Session for quasi-governmental KERS employers shall remain exempted for any renewals of those contracts for the same services; amend KRS 61.661 to conform.