Kentucky SB127 amends the Teachers' Retirement System to address actuarial costs of annual leave payments.

Kentucky SB127 modifies the Teachers' Retirement System to handle actuarial costs related to annual leave payments. It specifies conditions for crediting annual leave payments in retirement calculations and assigns responsibility for additional actuarial costs to the state and the last employer. The bill also adjusts contribution rates for different categories of members based on their entry dates into the retirement system.

Kentucky SB127 amends the Teachers' Retirement System to address actuarial costs of annual leave payments.

Kentucky SB127 modifies the Teachers' Retirement System to handle actuarial costs related to annual leave payments. It specifies conditions for crediting annual leave payments in retirement calculations and assigns responsibility for additional actuarial costs to the state and the last employer. The bill also adjusts contribution rates for different categories of members based on their entry dates into the retirement system.