Summary of Original Version

Amend KRS 161.540 to specify payment obligations for the inclusion of annual leave payments in a retiring member's pension benefits from the Teachers' Retirement System (TRS) by requiring the state to pay the actuarial costs for annual leave accrued through July 31, 2026, and the last employer pay the actuarial costs for annual leave accrued on or after August 1, 2026.

Summary of Amendment: Senate Committee Substitute 1

Summary Retain original provisions, except specify the state shall pay actuarial costs to the Teachers' Retirement System (TRS) for annual leave accrued on or after August 1, 2026, for school employees not to exceed 5 days annually; provide that only those employees earning annual leave prior to August 1, 2026, with an employer participating in the TRS annual leave program prior to August 1, 2026, may have annual leave payments included in TRS retirement benefit calculations; amend KRS 160.220 to conform.

Statutes affected:
Introduced: 161.540
Senate Committee Substitute 1: 161.540, 161.220
Current: 161.540, 161.220