Title III, Executive Branch

There is hereby created and established: (1) A retirement system for state police to be known as the "State Police Retirement System" by and in which name it shall, pursuant to the provisions of KRS 16.510 to 16.652, transact all of its business, and shall have the powers and pri…

(1) Membership in the system shall consist of all regular full-time officers of the Department of Kentucky State Police appointed pursuant to KRS 16.050 who are entitled to exercise the powers of peace officers. (2) Membership in the system shall not include those employees who a…

Under such rules and regulations as are adopted by the board, each employee becoming a member on July 1, 1958, shall have on file at the retirement office, on such forms as the board may prescribe, a statement of the facts pertaining to his status as a member which shall include …

Service earned while on leave -- Refund. (1) Employee contributions shall be deducted from the creditable compensation of each member of the retirement system in the active employment of the Department of Kentucky State Police of the Justice and Public Safety Cabinet as an office…

(1) Except for members over age fifty-five (55) on July 1, 1958, who shall not be required to contribute, each member shall, commencing on July 1, 1998, contribute for each pay period for which he receives compensation, eight percent (8%) of his creditable compensation. (2) The e…

All the assets of the system shall be held and invested in the State Police Retirement Fund and credited, according to the purpose for which they are held, to one (1) of three (3) accounts: the "members' account," the "retirement allowance account," and accounts established pursu…

(1) The member account shall be the account to which: (a) All members' contributions, or contributions picked up by the employer after August 1, 1982, and interest allowances as provided in KRS 16.505 to 16.652 shall be credited, except as provided by KRS 61.702(2)(b); and (b) Fo…

The retirement allowance account shall be the account in which shall be accumulated all employer contributions, amounts transferred from the member account, and to which all income from the investment assets of the system shall be credited. From this account there shall be paid a…

(1) There are created and established: (a) An excess benefit plan to be known as the State Police Retirement System Excess Benefit Plan. The plan is created for the purpose of providing the retirement allowances payable from the retirement system under KRS 16.510 to 16.652 that w…

January 1, 2014 -- Election regarding payment of retirement allowance. (1) (a) Any member who begins participating before September 1, 2008, who has at least five (5) years of service credit may retire at his normal retirement date, or subsequent thereto, upon written notificatio…

1, 2014. (1) Upon retirement at early retirement date, a member may receive an annual retirement allowance payable monthly during his lifetime which shall be determined in the same manner as for retirement at his normal retirement date, with years of service and final compensatio…

(1) If a member dies prior to the first day of the month in which the member would have received his or her first retirement allowance, the member's beneficiary shall be eligible for the benefits provided by this section if the member had on file a written designation of a benefi…

(1) (a) Total and permanent disability means a disability which results in the member's incapacity to engage in any occupation for remuneration or profit. Loss by severance of both hands at or above the wrists, or both feet at or above the ankles, or one (1) hand above the wrist …

and Kentucky Employees Retirement System in hazardous duty positions -- Member contributions and employer pay credits -- Interest credits -- Termination of employment -- Options upon retirement -- Applicability of statute. (1) A member of the State Police Retirement System, a mem…

Reduction of accumulated sick leave -- Funding in executive branch budget. (1) Subject to the limitations and requirements provided by this section, the following shall apply to members of the State Police Retirement System who are eligible for benefits from the hybrid cash balan…

children, and designated beneficiaries -- Election -- Receipt of benefits under KRS 16.578 pending final determination. (1) If a member dies as a direct result of an act in line of duty as defined in KRS 16.505 and is survived by a spouse: (a) The surviving spouse shall be the be…

The government and control of the system is hereby vested in the board of trustees of the Kentucky Retirement Systems. The board shall carry out the provisions of KRS 16.510 to 16.652 in the same manner in which it administers the Kentucky Employees Retirement System. In all matt…

custodial account -- Priority to investments enhancing economic welfare of Commonwealth -- Investment committee of funds -- Cap on amount of assets managed by any one investment manager. (1) The board shall be the trustee of funds created by KRS 16.505 to 16.652 and KRS 61.701 an…

The following subjects shall be administered in the same manner subject to the same limitations and requirements as provided for the Kentucky Employees Retirement System as follows: (1) Cessation of membership, as provided for by KRS 61.535; (2) Medical examiners and hearing proc…

participating before January 1, 2014 -- Exceptions -- Amendment of benefits and rights. (1) For members who begin participating in the State Police Retirement System prior to January 1, 2014, it is hereby declared that in consideration of the contributions by the member, and in f…