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KY HB445
KY HB445AN ACT relating to a cost-of-living increase to the retirement benefits for retired state employees, making an appropriation therefor, and declaring an emergency.
summary
Introduced
01/21/2026
01/21/2026
In Committee
01/29/2026
01/29/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Appropriate $221.4 million, $18.7 million, and $16 million in fiscal year 2026-2027 for the Kentucky Employees Retirement System (KERS) nonhazardous pension fund, the KERS hazardous pension fund, and the State Police Retirement System pension fund, respectively, to provide a one-time 2% COLA effective July 1, 2026; APPROPRIATION; EMERGENCY.
AI Summary
This bill appropriates a total of $256.1 million from the state's Budget Reserve Trust Fund Account to the Kentucky Public Pensions Authority to provide a one-time 2% cost-of-living adjustment (COLA) to the monthly retirement benefits for retired state employees, effective July 1, 2026. Specifically, $221.4 million is allocated to the Kentucky Employees Retirement System (KERS) for retirees in nonhazardous positions, $18.7 million is for KERS retirees in hazardous positions, and $16 million is for retirees of the State Police Retirement System. This adjustment is intended to address the fact that these retirees have not received a COLA since fiscal year 2011-2012, and the bill declares an emergency to allow it to take effect immediately upon passage.
Committee Categories
Government Affairs
Sponsors (3)
Last Action
to State Government (H) (on 01/29/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/26RS/hb445.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb445/orig_bill.pdf |
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