HB661: AN ACT relating to pension spiking in the Kentucky Public Pensions Authority.

Legislative Summary

Amend KRS 61.598 to exempt from the pension spiking provisions any increases in rates of pay authorized or funded by the legislative or administrative body of an employer or mandated in a collective bargaining agreement approved by the legislative body of the employer that are provided to members of the Kentucky Employees Retirement System, the County Employees Retirement System, or the State Police Retirement System.