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Kentucky · 2025 Regular Session · Bill

SB 104: AN ACT relating to the Kentucky Public Employees' Deferred Compensation Authority.

Enacted Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

SB 104 is a bill introduced in the Kentucky Senate on February 5, 2025. According to its official title, it concerns: AN ACT relating to the Kentucky Public Employees' Deferred Compensation Authority. Most recent recorded action (April 1, 2025): signed by Governor (Acts Ch. 141).

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

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

Amend KRS 18A.230 to define "self-directed brokerage account" (SDBA); amend KRS 18A.235 to authorize the board of trustees of the Kentucky Public Employees Deferred Compensation Authority (KY Deferred Comp) to purchase fiduciary liability insurance and reimburse its trustees, officers, and employees for legal expenses relating to performance of their duties; amend KRS 18A.245 to authorize KY Deferred Comp to offer SDBAs to its participants, contract with SDBA vendors, and promulgate administrative regulations relating to SDBAs for its participants, require the plans offered by KY Deferred Comp to conform to federal laws and regulations, authorize KY Deferred Comp to promulgate administrative regulations, and make technical changes; amend KRS 18A.255 to direct that KY Deferred Comp and its board of trustees are not liable for a participant's investment in a SDBA, establish the fiduciary duties of the board of trustees, and exempt the trustees from legal action for monetary damages unless the person bringing the action proves by clear and convincing evidence that a trustee's breach or failure to perform the trustee's fiduciary duty is a willful, wanton, or reckless act; amend KRS 18A.260 to require assets held by KY Deferred Comp to be invested consistent with its statutory authority and limit investments in a SDBA to securities registered with the United States Securities and Exchange Commission.

Sponsors

NameRolePartyChamberDistrict
No sponsor recorded in source data.

“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. signed by Governor (Acts Ch. 141)
  2. delivered to Governor
  3. enrolled, signed by Speaker of the House
  4. enrolled, signed by President of the Senate
  5. received in Senate
  6. 3rd reading, passed 98-0
  7. placed in the Orders of the Day
  8. taken from Rules
  9. reported favorably, 2nd reading, to Rules
  10. to State Government (H)
  11. returned to Committee on Committees (H)
  12. 1st reading

Showing 12 most recent of 22 actions. Full history

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source