kentucky judicial form retirement system（肯塔基州的退休制度的司法形式）.doc

Kentucky Judicial Form Retirement System JUDICIAL RETIREMENT PLAN LEGISLATORS RETIREMENT PLAN Donna S. Early Whitaker Bank Building, Suite 302 Executive Director 305 Ann Street Frankfort, Kentucky 40601 Phone (502) 564-5310 Fax (502 564-2560 E Mail DonnaS.Early@ky.gov M E M O R A N D U M To: Mary C. Yaeger, Office of Special Projects From: Donna S. Early, Executive Director RE: 2013 SB 7 SCS 2 Date: February 28, 2013 2013 SB 7 SCS 2 is a proposal to prohibit members of the Legislators Retirement Plan (LRP) who take office on or after July 1, 2013, from using non-legislative salary in the LRP benefit formula. I have examined this bill and have formed the opinion that 2013 SB 7 SCS 2 is identical to the provisions of 2013 HB 21, except that HB 21 provides for the change on or after August 1, 2013. For this reason, please accept the Actuarial Analysis dated December 21, 2012 of Bryan, Pendleton, Swats McAllister for HB 21 in response to your February 27, 2013 request for analysis pursuant to KRS 6.350 for SB 7 SCS 2. I have not requested any further actuarial analysis by the System’s independent actuary. Please let me know if you have any questions regarding this communication. MEMORANDUM REPORTDecember 21, 2012December 21, 2012Donna S. EarlyBR 92 (13 RS) TO: Donna S. Early FROM: BPSM, LLC DATE: December 21, 2012 RE: Actuarial Analysis of Proposed Legislation BR 92 (13 RS) HB 21SB 7 SCS 2 BPSM, LLC was asked to prepare an actuarial analysis in compliance with KRS 6.350 with regard to the recent proposed legislation (“BR 92 (13 RS)”) that makes changes to the Kentucky Legislators Retirement Plan (“KLRP”). It is our understanding that BR 92 (13 RS) makes the following changes to KLRP: Restricts the availability of reciprocity for non-legislative salary such that only those members of KLRP who began contributing prior to August?1, 2013 may use non-legislative compensation in determining their benefits under KLRP. Allo