{"data":{"id":"us-ky/krs-7a.220","jurisdiction":"us-ky","citation":"KRS 7A.220","heading":"Membership of board.        (Effective until January 1, 2027)","body":"(1) The Public Pension Oversight Board shall be composed of the following twenty -\nthree (23) members:\n(a) 1. Four (4) members of the General Assembly appointed by the Speaker of\nthe House of Representatives, each of whom shall serve while a member\nof the House for the term for which he or she has been elected, one (1)\nof whom shall be the chair or a vice chair of the House Standing\nCommittee on Appropriations and Revenue; and\n2. Two (2) members of the General Assembly appointed by the Speaker of\nthe House of Representatives, each of whom shall serve while a member\nof the House for the term for which he or she has been elected, and who\neach shall be selected to ensure representation on the board by House\nmembers of the General Assembly is in closer proportion to the\nrepresentation of each political party in the House of Representatives.\nOf the members appointed pursuant to this paragraph, the Speaker shall\ndesignate one (1) as co-chair of the board;\n(b) 1. Four (4) members of the General Assembly appointed by the President\nof the Senate, each of whom shall serve while a member of the Senate\nfor the term for which he or she has been elected, one (1) of whom shall\nbe the chair or a vice chair of the Senate Standing Committee on\nAppropriations and Revenue; and\n2. Two (2) members of the General Assembly appointed by the President\nof the Senate, each of whom shall serve while a member of the Senate\nfor the term for which he or she has been electe d, and who each shall be\nselected to ensure representation on the board by Senate members of the\nGeneral Assembly is in closer proportion to the representation of each\npolitical party in the Senate.\nOf the members appointed pursuant to this paragraph, the  President shall\ndesignate one (1) as co-chair of the board;\n(c) Two (2) members of the General Assembly appointed by the Minority Floor\nLeader of the Senate, who shall serve while a member of the Senate for the\nterm for which he or she has been elected;\n(d) Two (2) members of the General Assembly appointed by the Minor ity Floor\nLeader of the House of Representatives, who shall serve while a member of\nthe House for the term for which he or she has been elected;\n(e) One (1) individual appointed by the Speaker of the House of Representatives,\nwho shall be certified as a ch artered financial analyst (CFA) with at least ten\n(10) years of investment experience or who shall possess at least ten (10)\nyears of retirement experience as defined by subsection (2) of this section;\n(f) One (1) individual appointed by the President of t he Senate, who shall be\ncertified as a chartered financial analyst (CFA) with at least ten (10) years of\ninvestment experience or who shall possess at least ten (10) years of\nretirement experience as defined by subsection (2) of this section;\n(g) The state budget director or his or her designee;\n(h) The Auditor of Public Accounts or his or her designee;\n(i) The Attorney General or his or her designee; and\n(j) Two (2) individuals appointed by the Governor, one (1) of whom shall be\ncertified as a chartered fi nancial analyst (CFA) with at least ten (10) years of\ninvestment experience and one (1) of whom shall possess at least ten (10)\nyears of retirement experience as defined by subsection (2) of this section.\n(2) For purposes of this section, \"retirement experience\" means:\n(a) Experience in retirement or pension plan management;\n(b) A certified public accountant with relevant experience in retirement or\npension plan accounting;\n(c) An actuary with relevant experience in retirement or pension plan consulting;\n(d) An attorney licensed to practice law in the Commonwealth of Kentucky with\nrelevant experience in retirement or pension plans; or\n(e) A current or former university professor whose primary area of emphasis is\neconomics or finance.\n(3) Individuals appointed under subsection (1)(e), (f), and (j) of this section shall not:\n(a) Be a member of the General Assembly;\n(b) Be employed by a state agency of the Commonwealth of Kentucky or\nreceiving a contractual payment for services rendered to a state agency of the\nCommonwealth of Kentucky that would conflict with his or her service to the\nboard; or\n(c) Serve more than three (3) consecutive four (4) year terms on the board.\n(4) Any vacancy which may occur in the membership of the board shall be filled by the\nappointing authority who made the original appointment.\n(5) Individuals appointed under subsection (1)(e), (f), and (j) of this section shall serve\na term of four (4) years.\nEffective: April 14, 2022","path":["KRS Chapter 7A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=52281","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:27Z","sha256":"73f4462e2a0328937eb0503fb5ab7e84ec36f301964fc43dcf39962089b41d67","source_id":"us-ky","stale":false,"prev":"us-ky/krs-7a.210","next":"us-ky/krs-7a.230"},"notice":"GroundRules: Original legal text. Not legal advice."}