KLC 2020 Legislative Update

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9) RETIREMENT & PENSIONS governor by the Kentucky League of Cities (KLC); • One appointed member with retirement experience from a list of three provided to the governor by KLC; • One appointed member with investment experience from a list of three provided to the governor by the Kentucky Association of Counties (KACo); • One appointed member with retirement experience from a list of three provided to the governor by KACo; • One appointed member with investment experience from a list of three provided to the governor by the Kentucky School Boards Association (KSBA); and • One appointed member with retirement experience from a list of three provided to the governor by KSBA. From left to right, Kentucky Professional Firefighters President Joe Baer, Kentucky School Boards Association (KSBA) Governmental Relations Director Eric Kennedy, Rep. Russell Webber (R-Shepherdsville), KLC Director of Governmental Affairs Bryanna Carroll, and LaRue County Judge/Executive Tommy Turner testify in support of HB 484 at the March 9 House Local Government Committee meeting. A trustee with “investment experience” means an individual who does not have a conflict of interest, and who has at least 10 years of experience in one of the following areas of expertise: (1) a portfolio manager acting in a fiduciary capacity; (2) a professional securities analyst or investment consultant; (3) a current or retired employee or principal of a trust institution, investment or finance organization, or endowment fund acting in an investment-related capacity; (4) a chartered financial analyst in good standing as determined by the Chartered Financial Analyst Institute; or (5) a university professor teaching investment-related studies. A trustee with “retirement experience” means an individual who does not have a conflict of interest and who has at least 10 years of experience in one of the following areas of expertise: (1) experience in retirement or pension plan management; (2) a certified public accountant with relevant experience in retirement or pension plan accounting; (3) an actuary with relevant experience in retirement or pension plan consulting; (4) an attorney licensed to practice law in Kentucky with relevant experience in retirement or pension plans; or (5) a current or former university professor whose primary area of emphasis is economics or finance. www.KLC.org 34
9) RETIREMENT & PENSIONS The CERS Board of Trustees shall manage the CERS trust, including investment decisions, actuarial data, auditing, asset allocations, and medical and other professional services. The system shall publish an annual financial report showing all receipts, disbursements, assets, and liabilities along with an annual audit conducted in accordance with generally accepted auditing standards. At least once every five years, the Auditor of Public Accounts shall perform the audit. The Kentucky Public Pensions Authority providing administrative services to both the KRS and CERS Boards of Trustees shall be composed of the chair and investment committee chair of each board and two additional trustees from each board appointed by the chair of the board, for a total of eight members. All employees of the Kentucky Public Pensions Authority, except for the executive director, shall be subject to the state personnel system established pursuant to KRS 18A.005 to 18A.204 and shall have their salaries determined by the secretary of the Personnel Cabinet. The authority shall annually report to the Public Pension Oversight Board the number of employees of the authority, the salary paid to each employee, and any change in the salaries of individuals employed by the authority over the prior year. A noncodified section is added to provide the governor shall have no authority to change any provision as it relates to reorganizing, replacing, amending, or abolishing the membership of the CERS Board of Trustees, the KRS Board of Trustees, or the Kentucky Public Pensions Authority. Effective April 1, 2021. Representative Russell Webber (R-Shepherdsville) speaks on the House floor before members pass HB 484 by a 90-4 vote. www.KLC.org 35
Page 1 and 2: 2020 KENTUCKY LEAGUE OF CITIES LEGI
Page 3 and 4: Local Government Procedures -------
Page 5 and 6: HB 375 HB 378 HB 382 HB 415 HB 479
Page 7 and 8: A MESSAGE FROM KLC J.D. CHANEY EXEC
Page 9 and 10: 1) ALCOHOLIC BEVERAGES KRS 243.075
Page 11 and 12: 2) EMERGENCY SERVICES House Bill 8
Page 13 and 14: 2) EMERGENCY SERVICES House Bill 35
Page 15 and 16: 3) FIRE PROTECTION 3. 4. 5. 6. 7. 8
Page 17 and 18: 4) LAW ENFORCEMENT House Bill 298 P
Page 19 and 20: 4) LAW ENFORCEMENT Senate Bill 111
Page 21 and 22: 5) LOCAL GOVERNMENT ADMINISTRATION
Page 23 and 24: 6) LOCAL GOVERNMENT PROCEDURES A lo
Page 25 and 26: 6) LOCAL GOVERNMENT PROCEDURES KRS
Page 27 and 28: 7) PUBLIC HEALTH House Bill 344 ACC
Page 29 and 30: 7) PUBLIC HEALTH 2. 3. 4. 5. 6. 7.
Page 31 and 32: 8) PUBLIC SAFETY role and effective
Page 33: 9) RETIREMENT & PENSIONS authorized
Page 37 and 38: 9) RETIREMENT & PENSIONS Senate Bil
Page 39 and 40: 10) FISCAL MATTERS House Bill 352 E
Page 41 and 42: 11) SCHOOL SAFETY Senate Bill 8 SCH
Page 43 and 44: 12) TELECOMMUNICATIONS House Bill 3

KLC 2020 Legislative Update

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