7A.240 Authority of board.

246 words·~1 min read·/ky/chapter-7a/7a-240

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 state-

administered 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 state-

administered 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 state-

administered retirement systems to the Legislative Research Commission and shall

be included in the administrative budget of the state-administered retirement

systems.