Title VIII, Offices and Officers

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

Allowance forms -- Selection of payment option -- Effective date. (1) (a) A member or beneficiary eligible to receive retirement benefits under any of the provisions of KRS 61.510 to 61.705, 78.510 to 78.852, and 16.510 to 16.652 shall have on file at the retirement office on the…

(1) (a) "Hazardous position" for employees participating in the Kentucky Employees Retirement System means: 1. Any position whose principal duties involve active law enforcement, including the positions of probation and parole officer and Commonwealth detective, active fire suppr…

Any former member of the Kentucky Employees Retirement System who was determined to be in a hazardous position in accordance with KRS 61.592(1) and (2) and whose service retirement from such position was effective after such determination but prior to July 1, 1976, due to the rev…

(1) Effective July 1, 1990, upon retirement at normal retirement date or subsequent thereto, a Kentucky Employees Retirement System member may receive an annual retirement allowance, payable monthly during his or her lifetime, which shall consist of an amount equal to one and nin…

after September 1, 2008, but before January 1, 2014 -- Participation in hybrid cash balance plan -- Private letter ruling -- Administrative regulations -- Restriction. Notwithstanding any provision of KRS 16.505 to 16.652, 61.510 to 61.705, and 78.510 to 78.852 to the contrary: (…

Retirement System in nonhazardous duty positions -- Member contributions and employer pay credits -- Interest credits -- Termination of employment -- Options upon retirement. (1) A member of the Kentucky Employees Retirement System who is participating in a nonhazardous position,…

five years of service for employees retiring on or after January 1, 2018 -- Exceptions -- Employer to pay actuarial costs resulting from certain increases in creditable compensation -- Inquiries from employers -- Hearing and appeal -- Reporting of exemptions -- Inapplicability to…

Retirement System. (1) The annual retirement allowance for a member of the Kentucky Employees Retirement System shall not exceed the maximum benefit as set forth in the Internal Revenue Code. (2) (a) The retirement allowance for a member of the Kentucky Employees Retirement Syste…

-- Audits -- Legislative intent regarding future appropriations to subsidize retirement costs -- Non-core services independent contractor. Except as otherwise provided by this section, the following shall apply to nonhazardous employers in the Kentucky Employees Retirement System…

(1) Any person may qualify to retire on disability, subject to the following conditions: (a) The person shall have sixty (60) months of service, twelve (12) of which shall be current service credited under KRS 16.543(1), 61.543(1), or 78.615(1); (b) For a person whose membership …

(1) Upon disability retirement, except as provided by subsection (2) of this section, an employee may receive an annual retirement allowance payable monthly during his or her lifetime which shall be determined in the same manner as for retirement at his or her normal retirement d…

increased as a result of legislation -- Annual report by disability recipient. Notwithstanding any other provisions of KRS 16.505 to 16.652 or 61.510 to 61.705, a maximum disability benefit is hereby established which shall apply, upon disability retirement, to any disabled emplo…

review forms -- Duty of system to assist in obtaining records -- Disability fraud investigator. (1) Once each year following the retirement of a person on a disability retirement allowance, except for persons who become totally and permanently disabled as a direct result of an ac…

Discontinuance -- Determinations by medical examiner or vocational expert -- Hearings and appeals -- Early retirement and reinstatement of disability allowance for member who began participating before January 1, 2014. (1) (a) The Authority may contract for the services of one (1…

Benefits for surviving spouse and dependent children -- Receipt of benefits pending final determination. (1) Notwithstanding any provision of any statutes to the contrary, effective June 1, 2000, any employee participating in one (1) of the state-administered retirement systems w…

(1) A recipient who begins receiving a retirement allowance August 1, 2000, or after, from the Kentucky Employees Retirement System, the County Employees Retirement System, or the State Police Retirement System shall have the retirement allowance paid by electronic fund transfer …

(1) (a) Prior to the member's effective retirement date, a member if living, or if not living, his or her designated beneficiary, shall have the right to request a refund of his or her accumulated account balance if the member's employment has been terminated and the member is no…

(1) If a retired member who did not elect an optional retirement plan dies at any time on or after the first day of the month in which the member received or would have received his or her first retirement allowance but before receiving total retirement allowances provided in KRS…

(1) Each member shall have the right to elect to have his or her retirement allowance payable under any one (1) of the options set forth in this section in lieu of the retirement allowance otherwise payable to the member upon retirement under any of the provisions of KRS 16.505 t…

Recomputation of allowance -- Waiver of provisions in certain instances -- Reemployment in a different position -- Effect of reemployment of retired member -- Retired member serving as volunteer, independent contractor, or leased employee -- Effect of reelection for same office -…

(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…

Chief executive officer, general counsel, and other employees -- Appeals -- Other duties -- Limitation on Governor's authority -- Annual Comprehensive Financial Report -- Trustee education program -- Information made available to public. (1) The Kentucky Employees Retirement Syst…

Kentucky Retirement Systems board of trustees to County Employees Retirement System board of trustees established in KRS 78.782 -- Intent to enact future legislation. (Effective April 1, 2021) (1) Effective April 1, 2021: (a) Except as provided by KRS 61.505, the administration o…

Registration of securities -- Control over assets in custodial account -- Application of open records law -- Cap on amount of assets managed by any one investment manager -- Investment procurement policy -- Proxy voting guidelines. (1) (a) The board shall be the trustee of funds …

Determination of benefit amount -- Required contribution of plans. (1) The Kentucky Employees Excess Benefit Plan established in KRS 61.663 and the State Police Excess Benefit Plan established in KRS 16.568 shall be administered by the board of trustees of the Kentucky Retirement…

Assembly, public servants. (1) No trustee or employee of the Kentucky Retirement Systems board shall: (a) Have any interest, direct or indirect, in the gains or profits of any investment or any other legal, business, or financial transaction made by the board, save insofar as any…

(1) The State Treasurer shall be the custodian of the funds received under authority of KRS 61.510 to 61.705, 16.510 to 16.652 and 78.510 to 78.852 and shall be responsible for the safekeeping of all cash and securities in his custody. All payments from the fund shall be made by …

accounts of current or former legislators -- Response to subpoenas. (1) (a) Each current, former, or retired member's account shall be administered in a confidential manner, and specific data regarding a current, former, or retired member shall not be released for publication, ex…

There is created and established: (1) An excess benefit plan to be known as the Kentucky Employees Retirement System Excess Benefit Plan. The plan is created for the purpose of providing the retirement allowances payable from the retirement system under KRS 61.515 to 61.705 that …

(1) The Authority shall employ or contract for the services of at least three (3) physicians, licensed in the state and not members of the system, upon terms and conditions it prescribes to serve as medical examiners, whose duty it shall be to pass upon all medical examinations r…

- Audit -- Actuary for Legislative Research Commission. (1) (a) As soon as practicable after its organization, the board shall adopt the actuarial tables necessary for the administration of the system and for the annual determination of actuarial assets and liabilities of the sys…

reports -- Delinquency in making installment payments. (1) Except as provided by subsection (5) of this section, the employer shall prepare the records and, from time to time, shall furnish the information the system may require in the discharge of its duties. Upon employment of …

determination of eligibility and determination of benefits -- Waiver -- Choice among retirement systems -- Reciprocal arrangements. (1) Prior to August 1, 1982, every employee shall be deemed to consent and agree to any deduction from his or her compensation required by KRS 6.500…

liability -- Fraudulent claims to obtain benefits -- Investigation, enforcement, and penalties. (1) (a) Notwithstanding the provisions of KRS Chapter 413, upon discovery of any error or omission in system records, the Authority shall correct all system records, including but not …

- Domestic relations orders. (1) (a) Except as otherwise provided by this section and KRS 61.705(4), all retirement allowances and other benefits accrued or accruing to any person under the provisions of KRS 61.510 to 61.705, 16.505 to 16.652, and 78.510 to 78.852, and the accumu…

(1) Effective August 1, 1996, to July 1, 2008, a recipient of a retirement allowance under KRS 16.505 to 16.652 and 61.510 to 61.705 shall have his or her retirement allowance increased on July 1 of each year by the percentage increase in the annual average of the consumer price …

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

(1) Any person, including, but not limited to, members and agency reporting officials, who makes a statement, report, or representation, shall, at the request of the system, make the statement, report, or representation under oath with an acknowledgment that a false statement, re…

Participation, regulation, and termination. (1) (a) There is hereby maintained a trust fund known as "Kentucky Retirement Systems insurance trust fund." (b) Insurance trust fund assets shall be deemed trust funds to be held and applied solely as provided in this section. Assets s…

Employees Health Plan -- Employee and employer contributions -- Minimum service requirements -- Members with service in other retirement systems -- Exemption from premium tax -- Administrative regulation. (1) For purposes of this section: (a) "Hospital and medical insurance plan"…

(1) Upon the death of a member, retiree, or recipient who has an existing account or other benefit in a retirement system administered by the Kentucky Retirement Systems that totals no more than one thousand dollars ($1,000), the surviving spouse, or if none, a surviving child, o…

Assignment of benefit. (1) (a) Upon the death of a retired member of the Kentucky Employees Retirement System or State Police Retirement System who was receiving a monthly retirement allowance based on a minimum of forty-eight (48) months of service or whose retirement allowance …

(1) The Kentucky Retirement Systems unfunded liability trust fund is created and shall be administered by the Finance and Administration Cabinet. (2) (a) The trust fund shall consist of: 1. Contributions, gifts, and donations; 2. Any moneys designated by the General Assembly for …

(1) KRS 61.710 to 61.780 apply to Justices and Judges of the Court of Justice, Commonwealth's attorneys, and all candidates for all those offices. KRS 61.710 to 61.780 also apply to a person appointed to a vacancy in an unexpired term of any office mentioned above. (2) KRS 61.710…

As used in KRS 61.710 to 61.780: "Financial interest" means an economic interest in the form of stocks, bonds, realty, equity or credit or interests in a corporation, proprietorship or partnership or otherwise.