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Committee approves rollover/transfer rule after staff explains 2021 transition and review timing
Summary
105 KAR 1340, covering rollovers and transfers, was forwarded to the KPPA board after staff said the regulation mainly required technical updates; committee members questioned why some seven‑year reviews were only now being completed after KPPA's April 2021 formation.
The ad hoc regulations committee voted to forward 105 KAR 1340 (rollovers and transfers of contributions) to the full KPPA board after staff described the update as primarily technical.
A committee member asked why these regulations — many seven years old — were not "broad brush approved" when the Kentucky Public Pensions Authority was established on April 1, 2021. Nathan said the agency's transition required prioritizing many foundational policies and that some regulatory reviews were deferred: "There was a lot going on when the change happened... we had to get policies in place for the boards... And since the actual body or the main part of this didn't change, the what to do didn't change. It was just... put on the list of when things you know, when it arrives, when we can get to it, we will do it."
Committee members approved forwarding the regulation to the full board; staff noted the changes are largely technical and intended to prevent expiration of rules that had not yet been fully updated to KPPA references.
