HB76
Log in to followAN ACT relating to retirement benefits for state and county employees in hazardous positions.
Create a new section of KRS 16.505 to 16.652 to change the retirement benefits for members participating in the State Police Retirement System (SPRS) or in a hazardous position in either the Kentucky Employees Retirement System (KERS) or County Employees Retirement System (CERS) who are hired after January 1, 2014, but before January 1, 2026, so that, in lieu of continued participation in the hybrid cash balance plan (Tier 3 benefits), these members receive the…
Introduced: January 7, 2025
Last action: February 4, 2025
Plain-language summary
This bill would move most state and county employees in hazardous jobs — such as state police and other positions classified as hazardous — who were hired between January 1, 2014 and January 1, 2026 from a newer hybrid cash balance retirement plan (Tier 3) into an older, generally more generous defined-benefit retirement plan (Tier 2). Employees in that window would be automatically shifted to Tier 2 benefits unless they choose to opt out within…
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Legislative History
Primary Sponsor
Co-sponsors (9)
Bill Text Versions
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