Governor Signs Pension Reform Bill
Governor Bevin has signed Senate Bill 151, the pension reform bill. View the Senate Bill 151 Summary. Remember, you can keep up with all retirement-related legislation on our Legislative Updates page.
At the December Board of Trustees meeting, GRS Retirement Consulting presented the actuarial valuation for the year ended June 30, 2017, which includes proposed contribution rates for fiscal years 2019 and 2020. In the final days of the legislative session, we are
monitoring multiple bills that impact employer contribution rates. Read More
2017 Employer Survey
To better serve our employers and members, KRS developed an
online survey to solicit input from our employer contacts. Based on your
feedback, we have made several customer service improvements and plan to build
upon this progress in 2018. Read the Employer Survey
New Pension Spiking Process
During the 2017 regular session of the General Assembly, Senate Bill 104 was enacted creating new pension spiking rules for members retiring on or after January 1, 2018. Watch this video for an overview of these changes and the new process for retiring members and employers.
2016 GASB 67 and 68 Tables
If you have any questions, please contact Connie Davis, Director of Accounting.
File Layout Changes Postponed
In light of the potential for pension reform, we will not be implementing file layout changes until we can determine if there will be future changes to the reporting process.