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21.357 Summary plan description -- Publication -- Recipients.
(1)
(2)
(3)
(4)
The Judicial Retirement Board shall prepare and furnish to all active members
a summary plan description, written in a manner calculated to be understood
by the members and beneficiaries, and sufficiently accurate and
comprehensive to reasonably apprise them of their rights and obligations under
the Judicial Retirement System.
The summary plan description shall include:
(a) The name and address of the retirement system, the name of the
manager, and the name and address of each member of the Judicial
Retirement Board;
(b) The name and address of the person designated for the service of legal
process;
(c) The system's requirements for participation and benefits;
(d) A description of retirement formulas for normal, early and disability
retirement, and survivor benefits;
(e) A description of the requirements for vesting of pension benefits;
(f) A list of circumstances which would result in disqualification, ineligibility,
or denial or loss of benefits;
(g) The sources of financing retirement benefits, and statutory requirements
for funding;
(h) A statement after each actuarial valuation as to whether funding
requirements are being met; and
(i) The procedures to be followed in presenting claims for benefits under the
plan, and the remedies available under the plan for the redress of claims
which are denied in whole or in part.
The board may publish the summary plan description in the form of a
comprehensive pamphlet or booklet, or in the form of periodic newsletters
which shall incorporate all the information required in the summary plan
description within a period of two (2) years. Any changes in statutory
requirements or administrative practices which alter the provisions of the plan
as described in the summary plan description shall be summarized as required
in subsection (1) of this section and furnished to members in the form of a
supplement to a comprehensive booklet, or reported in the periodic newsletter.
The board shall provide to retirees and beneficiaries so much of the summary
plan description as they need to understand changes in benefits which apply to
them.
Effective:July 15, 1980
History: Created 1980 Ky. Acts ch. 246, sec. 14, effective 15, 1980.
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