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KPPA board approves FY26–28 baseline budget, $75M capital plan and ABR requests
Summary
KPPA approved a $50.1M baseline administrative biennium budget and a $75M capital planning submission that includes $15M in FY28 for a pension-administration system modernization; the board also approved ABR requests of $750,000 (FY27) and $1.5M (FY28) funded from restricted trust funds.
The Kentucky Public Pensions Authority board approved its FY26–28 biennium administrative baseline budget and capital-planning submission, and authorized staff to pursue additional restricted-fund requests to support an upcoming pension-administration modernization.
KPPA staff said the baseline administrative amount carried forward by the Budget Office is roughly $50,115,600 and presented a capital-submission totaling $75,000,000: $15,000,000 in the first biennium (FY28 planning), $50,000,000 across FY29–30, and $10,000,000 in a later biennium for finalization. Staff emphasized capital and ABR amounts come from trust-restricted funds, not general fund appropriations.
The agency also asked for an Additional Budget Request to support implementation planning and interim staffing needs: $750,000 in FY27 and $1,500,000 in FY28. Mike told the board the ABR is intended to fund preparation for the multi-year implementation of a replacement for the legacy 'start' pension administration system, which is more than 20 years old and not supported.
Board members praised staff work and voted to approve the biennium budget package as presented.
