2014 Kentucky Revised Statutes CHAPTER 95 - CITY POLICE AND FIRE DEPARTMENTS 95.520 Pension fund -- Board of trustees -- Coverage provided in County Employees Retirement System after August 1, 1988.
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95.520 Pension fund -- Board of trustees -- Coverage provided in County
Employees Retirement System after August 1, 1988.
(1)
(2)
(3)
In cities meeting the criteria set out in KRS 95.518, there shall be a
policemen's and firefighters' pension fund, and a board of trustees for that fund
unless the policemen and firefighters are included in the membership of the
County Employees Retirement System.
The board of trustees is the trustee of the pension fund, and has exclusive
control and management of the pension fund and of all moneys donated or
paid for the relief or pensioning of members of the police and fire departments.
It may do all things necessary to protect the fund.
(a) After August 1, 1988, no new locally administered pension fund shall be
created pursuant to this section, and cities which were covered by this
section on or prior to August 1, 1988, shall participate in the County
Employees Retirement System effective August 1, 1988.
(b) Cities which were covered by this section on or prior to August 1, 1988,
shall provide for the retirement of police or firefighters rehired after August
1, 1988, by placing such employees in the County Employees Retirement
System.
(c) Cities which were covered by this section on or prior to August 1, 1988,
shall place police or firefighters newly hired after August 1, 1988, in the
County Employees Retirement System.
(d) Cities which were covered by this section on or prior to August 1, 1988,
shall offer employees hired on or prior to August 1, 1988, membership in
the County Employees Retirement System under the alternate
participation plan as described in KRS 78.530(3), but such employees
may elect to retain coverage under this section.
(e) The city shall certify that all police and firefighters placed in the County
Employees Retirement System, and not covered by Social Security for
their employment with the city, are employed in hazardous positions. If
the police and firefighters are covered by Social Security for their
employment with the city, the city may certify that they are employed in
hazardous positions.
(f) If the city's participation in the County Employees Retirement System is
terminated pursuant to KRS 78.535, the city shall provide retirement
benefits pursuant to KRS 95.520 to 95.620 to any of its police and
firefighters who have not retained membership in the County Employees
Retirement System pursuant to KRS 78.535(4).
Effective:January 1, 2015
History: Amended 2014 Ky. Acts ch. 92, sec. 121, effective January 1, 2015. -June 17, 1978.
Legislative Research Commission Note. Acts 1988, ch. 11, 19, provides: "In
order that city employees with a choice can make an informed decision on
whether or not to join the county employees retirement system, Kentucky
retirement systems shall conduct briefings for each affected pension system on
the provisions of this Act. Each employee shall receive a written summary of the
retirement benefits which the county employees retirement system offers, and
each employee shall be given the opportunity to attend an oral presentation. All
such presentations shall be completed by October 15, 1988, and each affected
employee shall make his decision by November 1, 1988. Failure of an employee
subject to the provisions of this Act to receive a written summary or to attend an
oral briefing shall in no way invalidate any of the provisions of this Act."
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