Kentucky joins Maryland in considering an end to its Judges’ Retirement system

I noted earlier this month that Maryland is considering closing the door to any future entrants for its Judges’ Retirement System. Kentucky, which has been in session since January 4, has moved swiftly to do the same. SB 2 of 2011 closes the state’s Judicial Retirement Plan to new members effective July 1, 2012. The bill allows those in the Judicial Retirement Plan with less than 5 years of service to transfer their membership and account balance to the newly-created Public Employees Retirement System, a 401(k)-style retirement plan (as opposed to the current defined benefit system, h/t Courier-Journal). All future judges would have no choice put to join the new System. The bill went from introduced to committee approved in the first three days of session (January 4-7) and is currently on the Senate floor.