Kentucky · 2026 Regular Session
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, 2027, so that, in lieu of continued participation in the hybrid cash balance plan (Tier 3 benefits), these members receive the benefits provided to members in a hazardous position who began participating immediately prior to January 1, 2014 (Tier 2 benefits); for those eligible hazardous employees, create a presumption that service credit in a hazardous position earned after January 1, 2014, is service credit earned immediately prior to January 1, 2014; for eligible hazardous members transitioning to Tier 2, require that accumulated contributions in the hybrid cash balance plan remain in the member’s account, but any employer credit be transferred to the retirement allowance account; allow a member in a hazardous position subject to a change from Tier 3 to Tier 2 benefits to make a one-time election to opt out of the change of benefits within 30…
WITHDRAWN (2026-03-04)