HB 827/AA (BR 2183) - T. Kerr
AN ACT relating to retirement.
Amend KRS 161.220(9) to require that a legislator or former legislator who qualifies under Section 2 of this Act, and who has participated in the teachers' retirement system, have his or her final average salary calculated under Section 2 of this Act, create a new section of KRS Chapter 161 to provide that within 90 days of the effective date of this Act, or within 30 days of being sworn in for the first time as a legislator, a current member of the General Assembly who is in the Teachers Retirement System may elect to have employee and employer contributions under KRS 6.505 deducted and contributed to the Teachers' Retirement System, provide that upon retirement the legislator shall be given increased salary credit for assumed salary for a legislator under KRS 61.510(13) in calculating the members final average salary under KRS 161.220(9), and shall have the combined total serve as the member's final average salary for purposes of computing the member's retirement allowance.
Mar 1-introduced in House
Mar 4-to Education (H); posting waived; posted in committee