There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 95 CITY POLICE AND FIRE DEPARTMENTS
95.868 Contributions by city.
Download pdftoward the annuities and benefits herein provided. These contributions shall be equal to
the sum of the following:
(1) An annual amount resulting from the application of a rate percent of salaries of active members, representing the present value of the actuarial reserve requirements
for membership service, for service retirement annuity, disability retirement
annuity, and annuities to widows and children, and the one (1) year term premium
for the city's liability for death benefits, after applying the contributions by the
active members. Such rate percent shall be fixed by the board every three (3) years
after an actuarial survey of the fund, and shall be in effect for a period of at least
three (3) years. For the first three (3) fiscal years of operation of the fund, the city's
rate of contribution shall be at least twelve percent (12%) of the salaries of the
active members participating in the fund. (2) An amount resulting from the application of a rate percent of the salaries of active members which will provide each year regular interest on the remaining liability for
prior service. Effective: July 15, 1982
History: Amended 1982 Ky. Acts ch. 297, sec. 8, effective July 15, 1982. -- Created 1956 Ky. Acts ch. 16, sec. 18, effective July 1, 1956.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.