HB 694: AN ACT relating to Teachers' Retirement System benefit funding.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Create a new section of KRS 161.220 to 161.716, relating to the Teachers' Retirement System (TRS), to require that once the TRS retiree health fund has an actuarial funding level of at least 100%, then the employer funding for retiree health shall be used to pay down the unfunded liability of the TRS pension fund; require that if the actuarial funding level of the TRS retiree health fund falls below 95%, then the employer funding shall be restored to the retiree health fund until the retiree health fund is 100% funded; amend KRS 161.540, 161.550, and 161.675 to provide that the TRS board of trustees shall not recommend changes to the General Assembly to reduce employee or employer funding for retiree health or reduce board adopted charges under the shared responsibility provisions for health benefits for retirees under the age of 65 until the pension and retiree health funds are each 100% funded; amend KRS 161.420 to conform.

Sponsors

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 28, 2025delivered to Secretary of State (Acts Ch. 126)
2. March 28, 2025enrolled, signed by President of the Senate
3. March 28, 2025enrolled, signed by Speaker of the House
4. March 28, 2025received in House
5. March 27, 2025passed 29-8
6. March 27, 2025veto overridden
7. March 27, 2025posted for passage for consideration of Governor's veto
8. March 27, 2025to Rules (S)
9. March 27, 2025received in Senate
10. March 27, 2025passed 67-27
11. March 27, 2025veto overridden
12. March 27, 2025posted for consideration of Governor's veto

Showing 12 most recent of 40 actions. Full history