KY HB902

Recipients of monthly retirement allowances from the Kentucky Employees Retirement System 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 allowance up to a maximum of $1,000

Appropriates $43,827,000 in General Fund moneys from the budget reserve trust fund for fiscal year 2026-2027 to the Kentucky Public Pensions Authority to prefund the payments

Funding allocation: $38,488,000 for nonhazardous position retirees, $3,748,000 for hazardous position retirees, and $1,591,000 for State Police Retirement System retirees

Declares an emergency based on retirees not receiving a cost-of-living adjustment since fiscal year 2011-2012, making the act effective immediately upon passage and approval by the Governor