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Committee backs bill to create Office of Financial Management at Kentucky Public Pension Authority
Summary
House Bill 71, requested by KPPA, would create an Office of Financial Management and elevate the chief financial role to an executive director level; the committee approved the measure unanimously and was told it would not affect system funding requirements.
The House Committee on State Government unanimously reported House Bill 71, a measure requested by the Kentucky Public Pension Authority that restructures financial leadership at the agency by creating an Office of Financial Management and elevating the chief financial officer to an executive‑director level position.
Sponsor Representative Robert Duvall introduced the bill and was joined by KPPA Executive Director Ryan Barrow. Duvall told the committee the change codifies existing administrative practice and was vetted by the Public Pension Oversight Board during the interim. "This bill modifies the current structure by establishing an office of financial management and moving the current CFO to an executive director level position to oversee the newly created office," he said, adding the bill does not affect system funding requirements.
Committee members voiced support; Representative Johnson described the measure as an administrative update that codifies current practice. The committee voted 20‑0 to report the bill favorably to the House floor.
