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21.530 Coordination of Legislators' Retirement and Judicial Retirement Plans
-- Board.
(1)
(2)
(3)
(4)
For administrative purposes only, as hereinafter provided, the Legislators'
Retirement Plan and the Judicial Retirement Plan shall be coordinated under
the name, Judicial Form Retirement System, but each of the plans shall
maintain its separate identity. A board of trustees of that system hereby is
created, to consist of eight (8) members, three (3) of whom shall be appointed
by the Supreme Court, two (2) by the Governor, one (1) by the President of the
Senate, one (1) by the Speaker of the House of Representatives, and one (1)
by the president and speaker jointly. The appointments by the Governor shall
not be from among the members of either of the plans in the system, or from
among the persons drawing benefits from either of those plans.
(a) The members of the board shall serve for terms of four (4) years,
commencing as of July 1, 1980, and until their successors are chosen
and have qualified; provided that if a member of the board who was a
member of one (1) of the plans in the system when he was appointed
ceases to be a member of that plan, a vacancy shall thereupon be
deemed to exist in his position on the board; and provided further, that the
members of the Judicial Retirement Board in office on July 1, 1980, shall
serve for the remainder of the terms for which they were appointed, as the
members of the board created by this section, in the positions appointable
by the Supreme Court and the Governor. Vacancies shall be filled by the
appointing authority for the unexpired term.
(b) A trustee shall not serve more than three (3) consecutive four (4) year
terms. A trustee who has served three (3) consecutive terms may be
appointed again after an absence of four (4) years from the board. The
term limits established by this paragraph shall apply to trustees serving on
or after July 1, 2012, and all terms of office served prior to July 1, 2012,
shall be used to determine if the trustee has exceeded the term limits
provided by this paragraph.
The members of the board shall annually elect a chairman. The chairman shall
not serve more than four (4) consecutive years as chairman of the board. A
trustee who has served four (4) consecutive years as chairman of the board
may be elected chairman of the board after an absence of two (2) years from
the position.
Gubernatorial appointees, and judicial and legislative appointees who do not
receive an annual salary from the State Treasury in another capacity shall
receive an amount equal to the per diem compensation paid to members of the
General Assembly for each day they are in session. All members shall be
reimbursed for their necessary expenses.
Effective:April 11, 2012
History: Amended 2012 Ky. Acts ch. 75, sec. 6, effective April 11, 2012. -Amended 2003 Ky. Acts ch. 128, sec. 5, effective June 24, 2003. -- Amended
2000 Ky. Acts ch. 448, sec. 3, effective July 14, 2000. -- Amended 1994 Ky.
Acts ch. 486, sec. 16, effective July 15, 1994. -- Created 1980 Ky. Acts ch. 407,
sec. 19, effective July 1, 1980.
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