Kentucky Governor Matt Bevin recently posted a video to his official webpage where he reassures KRS active members and retirees that they will have time to understand any changes to the Systems that emerge from the upcoming Kentucky General Assembly Special Session, and plan accordingly.
Governor Bevin said, in part, "No decision that will be made is going to be done with an Emergency clause… there will be no decisions made that will not allow for ample opportunity for any individual approaching retirement to make a thoughtful decision. You will have plenty of time to hear the recommendations, to digest them, and to understand what is happening. There is no concern about whether you have to accelerate your retirement in order to get out in front of what's coming."
An Emergency Clause is a legislative action that allows a bill to become law immediately upon the signature of the Governor, or upon a certain date specified in the bill. In most cases, bills that are passed by the General Assembly and signed by the Governor take effect 90 days after the adjournment of the session. However, there are times when a bill needs to take effect as soon as possible in order to address a pressing need. Many of our members have expressed concerns that they will not have sufficient time to plan for their retirements if a bill were to be passed and take effect immediately.
Section 55 of the Kentucky Constitution provides the authority for Emergency legislation: http://lrc.ky.gov/legresou/constitu/055.htm
You can watch the Governor's video here: https://www.facebook.com/GovMattBevin/videos/1738658823100670/