republic-os/legislation/us/states/ky/2025rs/sb-104.md

---
type: "Bill"
title: "AN ACT relating to the Kentucky Public Employees' Deferred Compensation Authority."
description: "Amend KRS 18A.230 to define \"self-directed brokerage account\" (SDBA); amend KRS 18A.235 to authorize the board of trustees of the Kentucky Public Employees Deferred Compensation Authority (KY Deferred Comp) to purchase fiduciary liability insurance and reimburse its trustees, officers, and employees for legal expenses relating to performance of their duties; amend KRS 18A.245 to authorize KY Deferred Comp to offer SDBAs to its participants, contract with SDBA vendors, and promulgate administrative regulations relating to SDBAs for its participants, require the plans offered by KY Deferred Comp to conform to federal laws and regulations, authorize KY Deferred Comp to promulgate administrative regulations, and make technical changes; amend KRS 18A.255 to direct that KY Deferred Comp and its board of trustees are not liable for a participant's investment in a SDBA, establish the fiduciary duties of the board of trustees, and exempt the trustees from legal action for monetary damages unless the person bringing the action proves by clear and convincing evidence that a trustee's breach or failure to perform the trustee's fiduciary duty is a willful, wanton, or reckless act; amend KRS 18A.260 to require assets held by KY Deferred Comp to be invested consistent with its statutory authority and limit investments in a SDBA to securities registered with the United States Securities and Exchange Commission."
jurisdiction: "us/states/ky"
legislature: "Kentucky General Assembly"
session: "2025RS"
identifier: "SB 104"
citation: "Kentucky SB 104 (2025RS)"
classification: ["bill"]
subjects: ["Fiduciaries", "Retirement and Pensions", "State Agencies", "State Employees"]
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 22
vote_count: 2
first_action: "2025-02-05T05:00:00+00:00"
last_action: "2025-04-01T04:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/2d1f5ffa-f428-47b4-8a3d-dfb733cdbc0e"
source_url: "https://apps.legislature.ky.gov/record/25RS/sb104.html"
source_hash: "96354c425956f1a8d4c53d5ad5cb9bedf22b64625c608d08ddafed3b5fc9e4d7"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ky"]
---

# Kentucky SB 104 (2025RS) — AN ACT relating to the Kentucky Public Employees' Deferred Compensation Authority.

Amend KRS 18A.230 to define "self-directed brokerage account" (SDBA); amend KRS 18A.235 to authorize the board of trustees of the Kentucky Public Employees Deferred Compensation Authority (KY Deferred Comp) to purchase fiduciary liability insurance and reimburse its trustees, officers, and employees for legal expenses relating to performance of their duties; amend KRS 18A.245 to authorize KY Deferred Comp to offer SDBAs to its participants, contract with SDBA vendors, and promulgate administrative regulations relating to SDBAs for its participants, require the plans offered by KY Deferred Comp to conform to federal laws and regulations, authorize KY Deferred Comp to promulgate administrative regulations, and make technical changes; amend KRS 18A.255 to direct that KY Deferred Comp and its board of trustees are not liable for a participant's investment in a SDBA, establish the fiduciary duties of the board of trustees, and exempt the trustees from legal action for monetary damages unless the person bringing the action proves by clear and convincing evidence that a trustee's breach or failure to perform the trustee's fiduciary duty is a willful, wanton, or reckless act; amend KRS 18A.260 to require assets held by KY Deferred Comp to be invested consistent with its statutory authority and limit investments in a SDBA to securities registered with the United States Securities and Exchange Commission.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](https://apps.legislature.ky.gov/recorddocuments/bill/25RS/sb104/orig_bill.pdf)
2. **Acts Chapter 141** (committee substitute) — [source](https://apps.legislature.ky.gov/law/acts/25RS/documents/0141.pdf)
3. **Current/Final** (committee substitute) — [source](https://apps.legislature.ky.gov/recorddocuments/bill/25RS/sb104/bill.pdf)

## Votes

- PASS SB 104 — **36–0** (pass) · upper
- Final Passage — **98–0** (pass) · upper

## Timeline

The legislative action history — every referral, reading, and vote.

- **2025-02-05T05:00:00+00:00** introduced in Senate `introduction`
- **2025-02-05T05:00:00+00:00** to Committee on Committees (S) `referral-committee`
- **2025-02-07T05:00:00+00:00** to State & Local Government (S) `referral-committee`
- **2025-02-19T05:00:00+00:00** reported favorably, 1st reading, to Calendar `committee-passage`
- **2025-02-20T05:00:00+00:00** 2nd reading, to Rules `reading-2`
- **2025-02-20T05:00:00+00:00** posted for passage in the Regular Orders of the Day for Friday, February 21, 2025
- **2025-02-21T05:00:00+00:00** 3rd reading, passed 36-0 `passage, reading-3`
- **2025-02-25T05:00:00+00:00** received in House
- **2025-02-25T05:00:00+00:00** to Committee on Committees (H) `referral-committee`
- **2025-03-11T04:00:00+00:00** taken from Committee on Committees (H)
- **2025-03-11T04:00:00+00:00** 1st reading `reading-1`
- **2025-03-11T04:00:00+00:00** returned to Committee on Committees (H)
- **2025-03-11T04:00:00+00:00** to State Government (H) `referral-committee`
- **2025-03-12T04:00:00+00:00** reported favorably, 2nd reading, to Rules `committee-passage`
- **2025-03-13T04:00:00+00:00** taken from Rules
- **2025-03-13T04:00:00+00:00** placed in the Orders of the Day
- **2025-03-28T04:00:00+00:00** 3rd reading, passed 98-0 `passage, reading-3`
- **2025-03-28T04:00:00+00:00** received in Senate
- **2025-03-28T04:00:00+00:00** enrolled, signed by President of the Senate `passage`
- **2025-03-28T04:00:00+00:00** enrolled, signed by Speaker of the House `passage`
- **2025-03-28T04:00:00+00:00** delivered to Governor
- **2025-04-01T04:00:00+00:00** signed by Governor (Acts Ch. 141) `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/2d1f5ffa-f428-47b4-8a3d-dfb733cdbc0e`. Confidence: reported (aggregated from official Kentucky legislature records).