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Employers

Governor’s Executive Orders

On March 31, 2020, Governor Beshear issued Executive Order 2020-265 suspending statutes and regulations restricting participating employers from reemploying retired members in the specific positions identified in the order. On April 2, 2020, Governor Beshear issued Executive Order 2020-266, expanding the scope of positions covered to include all positions under city, county, and state government that are necessary to address the State of Emergency.  

Please note that Executive Order 2020-265 only applies to members who were retired as of the March 31, 2020 Order. Executive Order 2020-266 specifically noted that all previous Executive Orders were to remain in full force and effect. Thus, a member must have an effective retirement date of March 1, 2020 or before at KRS in order to be subject to the Executive Orders. Read More

Legislative Updates

The 2020 Regular Session of the Kentucky General Assembly convened on January 7, 2020.  During legislative sessions, KRS tracks proposed legislation of importance to the Systems and its members as the legislation moves through the process. Read More

Contribution Rates

At the Board of Trustees meeting on December 5th, KRS' actuary presented the annual actuarial valuation for the fiscal year ended June 30, 2019. As a result, the Board adopted CERS employer contribution rates for fiscal year 2021. The Board also approved KERS and SPRS employer contribution rates to recommend to the General Assembly for fiscal year 2021. 

Please keep in mind that the General Assembly establishes the final KERS and SPRS rates in the biennial executive branch budget bill.  Fiscal year 2021 employer contribution rates are subject to change depending on future actions of the General Assembly. Read More

Quasi-Governmental Cessation

During the 2019 Special Session of the General Assembly, House Bill 1 was passed. Because the bill had an Emergency clause it took effect immediately upon the Governor's signature on July 24, 2019. House Bill 1 has two key provisions:

  1. Set the employer contribution rate at 49.47%, retroactive to July 1, 2019 for fiscal year 2020, for KERS quasi-governmental agencies. 
  2. Established a one-time voluntary cessation window for KERS quasi-governmental agencies.

KRS has published a general information guide which answers some of the most Frequently Asked Questions from both our Quasi-Governmental Employers and their employees. Please note that an employer requesting an estimate shall pay all costs (actuarial and administrative) of the estimate. Please refer to the guide for details. 

House Bill 1 Quasi-Governmental Agency Cessation FAQ's

Form 7726 - Request for Estimated Cost of Voluntary Cessation from KERS under KRS 61.522(8) 

We will provide more information on the cessation process when available. 

GASB

2018 GASB Reports are available. Read More

                  

 

 


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