Personnel Public Employees Deferred Compensation Authority
| Public Employees Deferred Compensation Authority | |||||
| Actual FY 2024 | Actual FY 2025 | Revised FY 2026 | Recommended FY 2027 | Recommended FY 2028 | |
|---|---|---|---|---|---|
| SOURCE OF FUNDS | |||||
| Restricted Funds | |||||
| Balance Forward | 12,029,901 | 14,040,770 | 14,317,300 | 12,659,200 | 13,734,600 |
| Current Receipts | 9,612,805 | 7,907,075 | 6,959,400 | 9,572,400 | 9,572,400 |
| Non-Revenue Receipts | (92,500) | (95,000) | (97,500) | (100,000) | (102,500) |
| Total Restricted Funds | 21,550,206 | 21,852,845 | 21,179,200 | 22,131,600 | 23,204,500 |
| TOTAL SOURCE OF FUNDS | 21,550,206 | 21,852,845 | 21,179,200 | 22,131,600 | 23,204,500 |
| EXPENDITURES BY CLASS | |||||
| Personnel Costs | 7,161,112 | 7,187,854 | 8,107,100 | 7,995,300 | 8,037,500 |
| Operating Expenses | 348,323 | 347,740 | 412,900 | 401,700 | 401,700 |
| TOTAL EXPENDITURES | 7,509,436 | 7,535,594 | 8,520,000 | 8,397,000 | 8,439,200 |
| EXPENDITURES BY FUND SOURCE | |||||
| Restricted Funds | 7,509,436 | 7,535,594 | 8,520,000 | 8,397,000 | 8,439,200 |
| TOTAL EXPENDITURES | 7,509,436 | 7,535,594 | 8,520,000 | 8,397,000 | 8,439,200 |
| EXPENDITURES BY UNIT | |||||
| Public Employees Deferred Compensation Authority | 7,509,436 | 7,535,594 | 8,520,000 | 8,397,000 | 8,439,200 |
| TOTAL EXPENDITURES | 7,509,436 | 7,535,594 | 8,520,000 | 8,397,000 | 8,439,200 |
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.
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.