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7A.240 Authority of board.
The Public Pension Oversight Board shall have the authority to:
(1) Except for information protected under KRS 61.661 or 161.585 or information
specific to the account of a current or former employee or retiree, require the stateadministered retirement systems, or any other state agency, to provide any and all
information necessary to carry out the duties of the board, including any actuarial
analysis. The cost of providing the information to the board, including any actuarial
analysis, shall be included in the administrative budget of the state-administered
retirement systems or the state agency;
(2) Conduct public hearings in furtherance of its general duties, at which it may request
the appearance of officials of any state agency and solicit the testimony of interested
groups and the general public;
(3) Establish a uniform format for reports and data submitted to the board by the stateadministered retirement systems and the frequency and due dates for the reports and
data;
(4) Request the Auditor of Public Accounts to perform a financial or special audit of
the state-administered retirement systems; and
(5) Subject to selection and approval by the Legislative Research Commission, utilize
the services of consultants, actuaries, managers, legal counsel, and auditors to
render professional, managerial, and technical assistance, as needed. The cost for
actuarial services required by KRS 7A.250(8) and (9) shall be paid by the stateadministered retirement systems to the Legislative Research Commission and shall
be included in the administrative budget of the state-administered retirement
systems.
Effective: July 15, 2016
History: Amended 2016 Ky. Acts ch. 133, sec. 2, effective July 15, 2016. -- Amended
2015 Ky. Acts ch. 27, sec. 4, effective June 24, 2015. -- Created 2013 Ky. Acts ch.
120, sec. 5, effective July 1, 2013.
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