Reemployment Changes and Contribution Rates
Kentucky Public Pensions Authority sent this bulletin at 06/27/2019 01:33 PM EDT
June 2019
|
Reemployment Law ChangesReemployment law changes enacted with House Bill 55, House Bill 381, House Bill 419 and Senate Bill 162 are effective June 27, 2019. Senate Bill 1, effective March 11, 2019, also included reemployment changes. Read More Please note that as part of these changes, the certification section of the Form 6000, Notification of Retirement, has been modified. Members should visit our website to access forms and additional information about reemployment after retirement. Read More
|
Contribution RatesEmployer contribution rates for fiscal year 2020, effective July 1, 2019, are published on our website. Effective July 1, quasi-employers will pay the same 83.43% employer contribution rate as other KERS non-hazardous employers unless legislation is enacted changing the quasi-employer contribution rate.
|
Member Pension Spiking Quick GuideWe have had several employers incorrectly complete Form 6487 – Member Pension Spiking Exemptions. A Form 6487 that is incorrectly completed can cause a retiree to not receive the full value of the exemption amount and postpone the timeframe of your employee recouping full retirement payments. We have created a step by step guide to assist you in completing the Form 6487 as quickly and accurately as possible. Read More
|
Sick Leave Cost CalculatorIf your agency participates in the Standard Sick Leave program, you can take advantage of the sick leave cost calculator in Employer Self Service. You can find this calculator under the Services menu. This budgeting tool can be used for any employee within five years of retirement eligibility. The calculator can also be used for a retiree if a sick leave invoice has not been issued and if the retirement date is not before January of the prior year. For example, the calculator could be used today for retirement dates on or after January 2018 if a sick leave invoice has not been issued. View the Standard Sick Leave Invoice Video
|
Register for TrainingThe Divisions of Member Services and Employer Reporting, Compliance & Education are partnering again this year to offer Reporting Official training with the Pre-Retirement Education Program (PREP). Read More
|
Employee UpdateOn June 20, 2019, KRS began mailing Form 2035, Beneficiary Designation, with the Member Welcome Letter requesting that new members complete and return the form to our office. Read More
|
Questions?If you have questions, please contact our office at 1-888-696-8810. |