18A.230 Definitions.
As used in KRS 18A.230 to 18A.275, unless the context requires otherwise:
(1) "Employee" means a person holding an office, position or employment in state
government and agencies thereof and also includes persons in the public school
system;
(2) "Income" means earnings of a person while an employee of the state and agencies
thereof or public school system;
(3) "Asset" means any owned physical object or right having a monetary value;
(4) "Trust fund" means a fund consisting of assets received and held by a government
unit or its designated custodian to be expended or invested in accordance with
conditions of the trust;
(5) "Deferred compensation" means a method which allows employees to authorize
income to be deducted from their current earning and set aside to be paid at a later
date;
(6) "Board" means the board of trustees as established by KRS 18A.245; and
(7) "Authority" means the Kentucky Public Employees' Deferred Compensation
Authority.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 122, sec. 1, effective July 15, 2010. -- Repealed,
reenacted, and amended as KRS 18A.230, 1982 Ky. Acts ch. 448, sec. 46, effective
July 15, 1982. -- Created 1974 Ky. Acts ch. 143, sec. 2.
Formerly codified as KRS 18.510.
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.
