AN ACT relating to a cost-of-living increase to the retirement benefits for retired state employees, making an appropriation therefor, and declaring an emergency.

Appropriate $224 million, $17 million, and $16 million in fiscal year 2025-2026 to the Kentucky Public Pensions Authority to fund a one-time two percent cost-of-living adjustment effective July 1, 2025, for Kentucky Employees Retirement System nonhazardous and hazardous duty recipients, and for State Police Retirement System recipients, respectively; APPROPRIATION; EMERGENCY.

Introduced: February 5, 2025

Last action: February 7, 2025

To Appropriations & Revenue (H)

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This bill would set aside roughly $257 million in state funds to give retired state employees and state police a one-time 2 percent increase in their monthly pension payments, starting July 1, 2025. The increase is meant to help retirees keep up with rising costs of living. Because it involves an emergency declaration, it would take effect immediately if signed into law. Who it may affect: retired state government employees and retired Kentucky State Police officers who receive pension benefits through the Kentucky Public Pensions Authority.

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