House Bill 9 makes NO change to any pension benefit.
House Bill 9 does NOT limit the General Assembly’s ability to change benefits.
House Bill 9 does NOT change employer contribution rates.
Section 1 of House Bill 484, passed in the 2020 session, called for the legislature to create separate statutory structures for Kentucky Retirement Systems (KRS) and County Employees Retirement System (CERS) benefits while retaining shared statutes that relate to administrative provisions. House Bill 9 achieves that goal, ensuring autotomy for each pension system so changes made for one system do not unduly impact another.
Under House Bill 9:
- The CERS and KRS Boards can hire a general counsel, removing the requirement that the CEO of each board serve as its legal advisor.
- The governor must appointment or reappointment a CERS or KRS trustee at least 30 days prior to a current member’s term expiring, ensuring no delay in a transition.
- The CERS and KRS Boards may have a joint Disability Appeals Committee, creating efficiencies.
- The KPPA chief investment officer and deputy chief investment officer would be exempt from KRS 18A, removing limitations to hiring the best person to manage each systems investments.
- KPPA would develop a single budget that outlines CERS and KRS specific expenses that requires General Assembly approval, creating oversight.
- KPPA can establish one retiree health trust with separate accounts for KRS and CERS, saving costs for each system.
Support HB 9
Tell Your Legislator to Support HB 9 Now!