Introduced January 8, 2025
SB58
Log in to followAN ACT relating to designating a special needs trust to receive state-administered retirement benefits.
Amend KRS 16.505, 61.510, and 78.510 to define "special needs trust" (SNT) for purposes of the State Police Retirement System, Kentucky Employees Retirement System, and County Employees Retirement System; amend the definition of "person" to include a SNT, and amend the definition of "beneficiary" to exclude sole beneficiary of a SNT; amend KRS 16.578 to allow a SNT to receive a lifetime retirement benefit; amend KRS 61.623 to allow a trustee to receive checks on…
Plain-language summary
This bill would allow Kentucky public employees, teachers, state police officers, and judges to name a special needs trust as the beneficiary of their state retirement benefits. A special needs trust is a legal tool that holds money for a person with disabilities without disqualifying them from government assistance programs like Medicaid. The bill sets rules for how retirement systems would handle payments to these trusts, including notification requirements when a trust beneficiary dies. Who…
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Legislative History
Primary Sponsor
Robin Webb
Senator · Senate District 18
Co-sponsors (1)
Danny Carroll
Senator · Senate District 02
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