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KY HB406
Bill
Status
1/15/2026
Primary Sponsor
James Tipton
Click for details
AI Summary
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Recipients of monthly retirement allowances from the Kentucky Employees Retirement System (KERS) or State Police Retirement System who have been retired for at least 12 months will receive a one-time supplemental payment in July 2026, equal to their June 2026 monthly retirement allowance
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Appropriates $96,000,000 from the Kentucky Permanent Pension Fund for fiscal year 2026-2027: $84 million for KERS nonhazardous positions, $7 million for KERS hazardous positions, and $5 million for State Police retirees
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County Employees Retirement System Board of Trustees may elect to provide the same one-time supplemental payment to eligible county retirees, funded through increased employer contribution rates effective July 1, 2027 for a one or two-year period
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Declared an emergency measure, taking effect immediately upon passage, because retirees have not received a cost-of-living adjustment since fiscal year 2011-2012
Legislative Description
AN ACT relating to a supplemental payment for recipients of a monthly retirement allowance from the systems administered by the Kentucky Public Pensions Authority, making an appropriation therefor, and declaring an emergency.
Effective Dates, Emergency
Last Action
to Appropriations & Revenue (H)
1/23/2026