Personnel Public Employees Deferred Compensation Authority
Public Employees Deferred Compensation Authority
Actual FY 2024Actual FY 2025Revised FY 2026Recommended FY 2027Recommended FY 2028
SOURCE OF FUNDS
Restricted Funds
Balance Forward12,029,90114,040,77014,317,30012,659,20013,734,600
Current Receipts9,612,8057,907,0756,959,4009,572,4009,572,400
Non-Revenue Receipts(92,500)(95,000)(97,500)(100,000)(102,500)
Total Restricted Funds21,550,20621,852,84521,179,20022,131,60023,204,500
TOTAL SOURCE OF FUNDS21,550,20621,852,84521,179,20022,131,60023,204,500
EXPENDITURES BY CLASS
Personnel Costs7,161,1127,187,8548,107,1007,995,3008,037,500
Operating Expenses348,323347,740412,900401,700401,700
TOTAL EXPENDITURES7,509,4367,535,5948,520,0008,397,0008,439,200
EXPENDITURES BY FUND SOURCE
Restricted Funds7,509,4367,535,5948,520,0008,397,0008,439,200
TOTAL EXPENDITURES7,509,4367,535,5948,520,0008,397,0008,439,200
EXPENDITURES BY UNIT
Public Employees Deferred Compensation Authority7,509,4367,535,5948,520,0008,397,0008,439,200
TOTAL EXPENDITURES7,509,4367,535,5948,520,0008,397,0008,439,200
The Kentucky Public Employees Deferred Compensation Authority administers tax sheltered, supplemental retirement savings programs as established in the U.S. Internal Revenue Code Sections 457, 401(k), Roth 401(k), and 403(b) and in accordance with KRS 18A.230-18A.350. These programs are an optional benefit for Kentucky's public employees.
Policy
The Governor's budget includes additional funding in the amount of $30,400 in fiscal year 2027 and $62,400 in fiscal year 2028 to fund a 2% salary increment in fiscal year 2027 and an additional 2% in fiscal year 2028.
284