summary
Introduced
02/13/2026
02/13/2026
In Committee
02/23/2026
02/23/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Amend KRS 161.520 to remove the requirement for dependent children over the age of 18 to have their mental or physical condition approved by a majority of a medical review committee to receive survivor benefits; amend KRS 161.605 to raise the minimum amount a retired reemployed member may earn per day from $170 to $200, remove the provision for returning to work 1 month earlier if the member forfeits 1 month of their retirement benefit, reinstate the pension waiver program and prohibit members returning to work under its provisions from returning to work as administrators, and make technical changes; amend KRS 161.608 to clarify that the Teachers' Retirement System (TRS) will acknowledge a member's earliest participation date in another state administered retirement system to determine benefit tier; amend KRS 161.620 to allow a member who is a parent to apply for and manage payments to a disabled child without necessity of a court order or other legal authority; amend KRS 161.635 and 161.636 to allow TRS to offer index fund investment options to university and nonuniversity members, to annuitize the investment return on the supplemental benefit applied to the index funds not to exceed 6.1% if there is no COLA in a given year or 4.6% if there is a COLA in the given year, allow TRS to promulgate administrative regulations to establish procedures for disbursements from the supplemental benefit component, and establish that neither the TRS board or staff shall be liable for any losses or claims due to a member's election of an index fund and state that members have the sole responsibility for their investment decisions.
AI Summary
This bill makes several changes to the Kentucky Teachers' Retirement System (TRS) to modernize its benefits and administrative processes. It removes the requirement for a medical review committee to approve survivor benefits for dependent children over 18, simplifying the process for these benefits. For retired members who return to work, the daily earning limit is increased from $170 to $200, and certain provisions for early return to work are removed, while a pension waiver program is reinstated with a restriction preventing administrators from returning to work under it. The bill also clarifies how TRS will determine a member's benefit tier by acknowledging their earliest participation date in another state-administered retirement system. Additionally, it allows parents to manage payments for a disabled child without needing a court order. Finally, for university and non-university members who join TRS on or after January 1, 2022, the bill introduces the option to invest in index funds within their supplemental benefit component, with specific limits on the investment return rate used for annuitization, and clarifies that members are solely responsible for their investment decisions and any resulting losses.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
to State Government (H) (on 02/23/2026)
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/hb642.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb642/orig_bill.pdf |
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