HB 406 Kentucky House · 2018 Regular Session

AN ACT relating to employer funding for the County Employees Retirement System and declaring an emergency. Amend KRS 61.565 to establish a phase-in of the actuarially required employer contributions to the County Employees Retirement System (CERS) so that by July 1, 2024, the full actuarially required contribution rate is paid; provide that the maximum annual increase in projected dollars paid shall not exceed 10% of the value from the prior fiscal year through June 30, 2023, provide that rates payable by CERS employers from July 1, 2018, to June 30, 2023; shall be based upon the assumptions established in the 2017 actuarial valuation; require the systems' board of trustees to amend employer rates payable on or after July 1, 2018, accordingly; EMERGENCY.

Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2018
Committee Review
Floor Vote
Governor
Introduced Feb 20, 2018 Last action Feb 22, 2018