HB 406

Appropriate $96 million from the Kentucky Permanent Pension Fund in fiscal year 2026-2027 to the Kentucky Public Pensions Authority to fund 1-time supplemental payments on July 1, 2026, to recipients of a retirement allowance who have been retired for at least 12 months from the Kentucky Employees Retirement System (KERS) and the State Police Retirement System (SPRS); allow the Board of Trustees of the County Employees Retirement System to, by board decision, provide a one-time supplemental payment to recipients of a retirement allowance who have been retired at least 12 months by increasing employer contribution rates over a one-year or two-year period; specify that the 1-time supplemental payment shall be equal to the monthly payment received by the recipient in the month of June 2026; APPROPRIATION; EMERGENCY.